Vermont House Bill 127, a piece of legislation that will permit domestic sports betting in VT, has received the approval of both the Senate and the House and is on Governor Phil Scott’s desk awaiting signature.
HB 127 will allow for legal sports betting in Vermont for residents and visitors that are aged 21 and over.
What Is In VT HB 127?
House Bill 127 will allow for mobile sports betting applications to operate within the state. This was a crucial component as Vermont borders New York and Massachusetts, two regions where sportsbook apps are already legal.
Bettors from inside VT can cross the border into either NY or MA and download their sports gambling apps. There will be no in-person sports betting allowed under HB 127.
The Vermont Department of Liquor and Lottery will govern sports betting, which will include issuing licenses to up to six outside vendors. There will be an effort by the Department to prohibit any sportsbook advertising that may target under 21 bettors.
Mobile sportsbook operators will pay an initial licensing fee of $550,000. The terms of renewal fees and recurrence will be negotiated by the Commissioner of the Vermont Department of Liquor and Lottery but will happen no less than once every three years.
Fines for running an unlicensed sports betting operation in Vermont will be penalized as follows:
- First Offense: $50,000 fine and or 6 months in prison
- Second Offense: $150,000 fine and or one year in prison
- Third Offense: $300,000 fine and or two years in prison
The bill also sets aside $250,000 for establishing and running a problem gambling fund for the VT Department of Mental Health, $550,000 for the DOLL for startup governance funds, and $100,000 for the Agency of Digital Services for a self-exclusion program.
When Will Sports Betting Become Legal In Vermont?
Current projections suggest that domestic sportsbooks in Vermont will be open for business in time for betting on the NFL Playoffs, which begin on January 13, 2024.
Early estimates indicate around $2 million in taxes can be expected annually from sports betting profits. Gov. Scott has stated that he intends to sign the bill into law at some point before Friday.
Can I Bet On Sports In Vermont Now?
Many local gamblers currently use offshore sportsbook sites to bet on college and professional games occurring around the world. The sports betting sites included in our list of offshore sportsbook reviews accept members from Vermont, with some of them allowing for 18 and older patrons to get in on the action.
Sources – NBC5 Burlington | The Vermont State Legislature’s Official Website
