Weeks after announcing the results of the Sports Betting Study Committee, Vermont House Reps. filed a potential sports betting bill in the House. This bill would see the launching of online sportsbooks in Vermont. The Green Mountain State is the only New England area market without any regulated sports betting options.
Vermont Sports Betting Gains Momentum
The measure is H.127 and would allocate sports betting funds to education and problem gambling. These are direct steps laid out by the Sports Betting Stud Committee in their suggestions.
The primary reasoning behind pushing this new initiative is to pull gambling outside of the dark markets. House Rep. Matt Birong spoke on the manner following it’s the introduction of the bill.
“The conversation around sports wagering is similar to that of cannabis — get it out of the dark markets, provide supports for people, consumer protection, capture the revenue,” said Birong.
Vermont being surrounded by regulated markets is sure to be another motivation behind this bill. Locals can travel to neighboring New York, Massachusetts, and New Hampshire every day, taking potential tax revenue with them.
The passing of sports betting in Massachusetts was a major factor in Vermont lawmakers looking more into sports betting. With most of the country having some sort of local sports gambling industry, there are a lot of examples of how Vermont may proceed.
Next Steps For Vermont Betting Market
Before online sportsbooks can go live in Vermont, regulators would need to pass H. 127 in both the House and Senate. This process would take some time as bills are rarely passed in their initial introductory state. The bill will likely be modified following debates in both chambers.
The Governor of Vermont would then have to approve the measure. There have been examples are bills passing in the House and Senate and then getting vetoed by the Governor in the eleventh hour. A residential vote may also be required if this becomes a constitutional amendment.
The presentation of the House bill is the earliest stage for the betting market. Vermont residents have a long journey ahead of them before they have access to online sportsbooks.