Vermont to Vote on Legalizing Sports Betting
Sports betting used to only be allowed in Las Vegas, Atlantic City, or illegal through a bookie. Over the last five years states have started to legalize the activity through sports books in their own states to gain tax revenue.
On April 26, 2023 Vermont announced they are introducing a bill to join the 36 states, and the District of Columbia, that have already done so. The Bill has already been passed by the House, and will be awaiting the vote from the Senate
Matthew Birong’s bill was introduced late in 2022 for the 2023 voting cycle, and it has gained a lot of traction heading into this year. Birong’s bill is expected to be passed by the Senate and signed by Gov. Phil Scott.
The bill is to allow online betting sites to operate in Vermont with a fee of 550,000, which was changed from the original price of 275,000 for the license. The department of liquor and lottery will issue the license to potential sites.
For Vermont this could provide more tax revenue to the state that could in return be used, like stated above, for youth sports. For a state, like many others, that has had problems finding officials, coaches, and concession for youth tournaments of all sports this could help tremendously.
This also could stop the betting from people living in Vermont heading to bordering states to place bets and keep the money within the state rather than seeing it leave.
The form in which a potential site would get their license would be similar to New York with a bidding process on what potential tax percentage they are willing to pay.
I believe this is a great decision as every state should allow sports betting. Obviously, there will still be illegal gambling taking place across the country as bookies allow bets to be placed on credit unlike legal forms of gambling.
I don’t believe this will lead to anymore forms of gambling addiction as most addicts already find ways to bet, and with some of the money being made from this decision going to help addicts I believe the state is doing everything in their power to still care about their citizens.
Vermont also is one of the most loyal fan bases in sports and loves all of their professional teams even if they are not located within the state, if Rep. Birong’s bill is also passed; this could lead neighboring states to do the same thing.