Vermont lawmakers have received an initial rough draft of the Sports Betting Study Committee’s suggestions. The committee was established to research sports betting strategies for a potential market. These suggestions will be used by lawmakers to best curate Vermont sports betting bills and proposals. The committee has issued its findings to the General Assembly.
Vermont Lawmakers Work Towards Sports Betting Market
Through the committee’s findings, they have set recommendations for lawmakers in regard to the potential betting market. The suggestions come from market research which involved comparing neighboring markets and the standards set across the country.
Vermont is now the only New England region that has no form of betting. The research focused on how lawmakers could best bring forth a legal sports betting market to the Green Mountain State.
Sports Betting Study Committee Suggestions
- Vermont Should Establish a State-Controlled Market
- Vermont Should Grant the Department of Liquor and Lottery the Administrative Authority Over Sports Wagering
- Vermont Should Legalize Mobile and Online Sports Wagering
- Vermont Should Establish a Revenue Share Through the Competitive Bidding Process
- Vermont Should Adopt Comprehensive Responsible Gaming Measures
Looking at the recommendations by the committee, a sports betting market in Vermont would mirror the standard across other successful markets. The inclusion of online sports betting and a competitive bidding process is in line with recent markets such as Maryland, Massachusetts, and Ohio.
How Close Is A Vermont Market To Launch
This survey is the earliest phase in a long process to bring regulated sportsbooks to Vermont. With the information and suggestions from the committee, lawmakers can now work to draft a sports betting bill. The bill would need approval in both the House and Senate which could lead to debates and tweaks of the initial bill.
Additionally, in some cases, a statewide vote is required before sports betting can be added to the legislature. California is a recent example where two sports betting bills failed to pass by resident vote. This is a potential hurdle for the Vermont market.
Local Vermont residents should feel optimism that the sports betting conversation is beginning, however. This is a good sign that lawmakers are interested in the market. The interest is how every sports betting region began.
