Vermont’s 2022 Sports Betting Committee has called for sports betting to be legalised in the state, but with limited licenses issued by a request for proposals.
The committee report outlines what the implementation of sports betting could look like in Vermont, detailing reasons why sports betting could be beneficial for the state.
It contains six core recommendations, beginning with the implementation of a legalized, state-controlled sports betting market.
A state-controlled market would mean that the state of Vermont would control how many licenses are given out. In the report, the Committee states that there should be “minimum of two but not more than six” operators permitted to offer sports betting in Vermont.
In terms of the bidding process for licenses, the Committee recommends that it should “be structured to be similar to New Hampshire or New York,” two states notable for high tax rates.
The Committee also calls for mobile and online sports wagering to be legalized.
Another recommendation is granting the state’s Department of Liquor and Lottery administrative authority over all sports wagering in the state – effectively making this department the regulator.
If enacted, the remaining recommendations would see Vermont establishing a revenue share through a bidding process, putting responsible gaming measures in place and ensuring that agencies have the authority to address the changing sports betting market.
The report also contains several informal recommendations, which include ensuring a minimum age for betting, a minimum revenue share, establishing wager types and subjects and for the sector to fund financial literacy in education.
In addition, mentions the potential revenue that could come from the enactment of sports betting in the state – however, it does not state a specific number of range.
A bill that would have legalized mobile sports betting in Vermont was filed in January 2020, but it did not progress.
Another similar bill was introduced in February 2021, which would have allowed six brands to operate in Vermont. This also did not progress.