Vermont online sports betting bill H 127 has successfully passed in the Senate. This measure regulates online sportsbooks in Vermont. The measure has now advanced out of both legislative chambers and only awaits the signature of Gov. Phil Scott to be signed into law.
Scott has given his support for legal sports betting in the Green Mountain State in the past. It is likely that he will sign, meaning that Vermont sports betting is incoming.
Vermont Sports Betting Passes In House And Senate
Once signed into law, Vermont would join Tennessee and Wyoming as online-only markets. There will be no retail sports betting locations in the Green Mountain State.
Gov. Scott has stated that Vermonters are already betting on sports. The goal is now for the state to benefit from the tax dollars from their local bettors. The local market projects to bring between $2 million and $10 million annually from tax revenue.
“It’s being done here in the state and we just need to find a path forward that we can provide for the protections necessary to make it viable for us and for Vermonters,” Scott said.
When Will Sports Betting Launch In Vermont?
Once sports betting becomes law, Vermont will begin preparations for the impending launch. This will require establishing a regulatory body and finalizing the rules for the market. Bill sponsor Matt Birong spoke with TheLines.com about the measure, indicating a potential timeline for a launch should the bill pass.
“If it were to navigate its way through and be signed into law … best case scenario, fastest route to market, probably the beginning of next football season, if not next Super Bowl,” Birong said. “That’s TBD depending on what our operators are capable of putting together.”
The target would ideally have sportsbooks live in time for the 2023 NFL season. This would be cutting it close as it would only give roughly four months for lawmakers to complete regulations. A target for the Super Bowl would be more realistic, with ample time given for lawmakers to launch.
Until Gov. Scott signs the measure into law, there is no set timetable for the launch. Locals will have to wait and see how long the market takes to go live.