In the United States, the subject of sports betting has been a topic of extensive debate for many years. However, with the repeal of the Professional and Amateur Sports Protection Act (PASPA) in 2018, individual states were given the power to legalize and regulate sports betting within their own jurisdictions.
Since then, numerous states have seized the opportunity to enter this lucrative industry, and Vermont has recently become the latest state to join the growing list of over 30 states embracing this form of entertainment. In a groundbreaking move, Vermont has legalized online sports betting, thereby opening up a plethora of opportunities for both sports enthusiasts and the state’s economy.
The Path to Legalizing Sports Betting in Vermont
The journey to legalize online sports betting in the Green Mountain State began several years ago, championed by none other than Governor Phil Scott, who recently signed the bill into law. Governor Scott had long been an advocate for legalizing sports betting in Vermont, recognizing the potential benefits it could bring. He expressed his satisfaction in seeing the Legislature align with his vision, marking this moment as a significant milestone. The governor also acknowledged that many Vermonters were already engaging in sports betting on unauthorized platforms, resulting in the state missing out on valuable revenue.
Timeline of Events: Legalizing Sports Betting in Vermont
In 2019, House Bill 494 was introduced as an initial effort to legalize both retail and online sports betting. Unfortunately, the proposal failed to garner sufficient support from politicians and quickly faded into obscurity after only one reading.
October 2021 saw the enactment of Senate Bill 77, which aimed to gather crucial data and evaluate the potential revenue, total wagers (handle), and tax rates associated with sports betting. The positive outcomes from the assessment were published in 2022, paving the way for a renewed push for legislation.
In February 2023, House Bill 127 emerged, seeking to legalize two to six online sportsbooks in Vermont. This proposal achieved a significant milestone by successfully passing the first committee with an impressive nine to three votes. March 2023 marked a momentous occasion as H.127 became the first sports betting bill to pass through the Vermont House in its entirety, advancing toward the governor for final approval.
As the bill progressed, the Senate introduced a few amendments in May 2023. Additionally, a tentative implementation date of January 2024 was established, providing a timeline for the practical realization of legal sports betting in Vermont. On May 31, 2023, the final version of the bill received approval, leaving only the governor’s signature as the remaining step to make it officially law. Finally, on June 14, 2023, Governor Phil Scott signed the bill, cementing a momentous achievement in the journey to legalize sports betting in Vermont. This important milestone sets the wheels in motion for the implementation of regulated sports betting within the state.
What’s Next for Sports Betting in Vermont?
It’s important to note that currently, the new law specifically pertains to online sports betting sites and Vermont does not allow any US online casinos to operate within the state. The responsibility of operating and regulating sports wagering in Vermont falls under the authority of the Vermont Department of Liquor and Lottery. They will be responsible for issuing licenses or contracts to a maximum of six bookmakers. To ensure responsible gambling practices, the law includes essential guidelines. Annually, the Department will collaborate with the Department of Mental Health to produce a report for the Legislature on the impact of sports betting on problem gambling in Vermont.
It will be intriguing to see how the state addresses the potential integration of online casinos in the future. Online sports betting and casinos have a natural partnership, and the seamless integration of the platforms offers a dynamic experience for users. As Vermont begins its journey into the world of legal sports betting, the door may open for further discussions and considerations regarding the inclusion of online casino offerings.
Exploring Future Prospects of Sports Betting in the US
As the momentum behind the legalization of sports betting grows across the United States, several states are proactively considering their options and taking significant strides toward entering the world of legal online bookmaking. While more than 30 states have already embraced this popular form of gambling, others are steadily making progress in their quest to join the ranks.
In the state of Florida, sports betting had previously received approval but has encountered legal challenges that have temporarily hindered its launch. However, determined efforts are underway to overcome these obstacles and pave the way for the introduction of legal sports betting in the state.
Both Missouri and Vermont have witnessed the introduction of multiple sports betting bills, although they have faced obstacles in their journey toward legalization. The future prospects of these states in the world of sports betting remain uncertain at this juncture. Similarly, North Dakota experienced a setback when its sports betting bill was rejected in 2019, leaving the path to legalization in question.
Final Thoughts
As the landscape of sports betting continues to evolve throughout the country, these states are actively charting their own unique paths toward embracing this popular form of entertainment and exploring the immense potential for revenue generation it offers. The future promises exciting possibilities for the expansion of legal sports betting across the United States.
