Vermont Becomes Latest State to Legalize Online Sports Betting
LISTEN TO THIS ARTICLE:There is good news for sports fans in Vermont, with the state becoming the latest to legalize online sports betting. The bill passed the state legislature, and Governor Phil Scott has now signed it into law.
The bill puts the Vermont Department of Liquor and Lottery in charge of regulating sports betting, and it may license anything from two to six operators. Furthermore, the state has involved the Department of Mental Health in monitoring the impact that online sports betting will have on problem gambling rates in Vermont.
Licensed operators will be required to provide details of what measures they have put in place to reduce problem gambling and details of resources they make available to bettors to address any issues.
I first proposed Vermont legalize sports betting several years ago, and I’m happy the Legislature has come to an agreement, as well. We know many Vermonters already participate in the marketplace, and bringing it above board provides important resources and consumer protections.
Amongst the measures put forward by the bill are self-exclusion programs and house-imposed player limits. There are several other measures within the bill designed with player safety in mind, such as a limit on advertising.
Those who are under the age of 21 may not be targeted with adverts, and Wendy Knight, the Liquor and Lottery Commissioner, has confirmed that her department has the capabilities to ensure that operators are following the rules.
Vermont is expecting to bring in roughly $2 million from sports betting in the fiscal year 2024, and it is thought that this could grow to be as much as $10 million per year.
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