It appears that Vermont is now interested in testing the waters for legal sports betting within their borders, as a new piece of legislation has been introduced intended to allow for regulated sportsbooks to begin taking wagers as soon as this summer.
VT S0077 intends to launch domestic mobile sports betting apps and “lottery-based sports wagering” in the Green Mountain State and declares that the Department of Liquor and Lottery will be the governing body of legal sports betting in Vermont.
VT S0077 (An Act Related To Sports Wagering) states that wagers will not be permitted for any collegiate games that involve an institution that is based inside the state of Vermont.
S0077 goes on to specify that this prohibition would not prevent bets from being placed on tournaments that a Vermont college might be participating in. For instance, if The University of Vermont is playing in the NCAA Men’s Division I Basketball Tournament, regional gamblers could still bet on March Madness, but not on games that U of V plays in, or their futures odds.
The Senate bill includes provisions for:
- Statistic And Performance-Based Prop Bets
- Combinations Bets: Parlays, Teasers, Pleasers
- Live Betting And In-Game Odds
- Minimum Betting Age of 18 Years Old
The bill permits up to six sportsbook operators to attain a license within VT and do business via mobile applications using current iPhones, iPads, and Android-powered smartphones and tablets, and will also provide services over the Internet via laptops and PCs.
The state lottery system is also able to offer sports wagering, but the language seems intentionally vague and merely states that “the Department shall determine the type of wagering permitted at lottery retailers.”
While these online and mobile options will allow for legal sports betting in Burlington and in other major metropolitan areas of Vermont, there will still likely be an appetite for in-person sportsbooks within the region.
The language also suggests that a daily wagering limit will be enacted, but that amount has not been declared as of this writing.
There is an inclusion for sportsbook banking options to be amended at will by the Department, but as it currently stands, wagers can be placed using cash (or cash equivalent), debit cards, PayPal, ACH, or “promotional funds.”
A Sports Wagering Unit will be created to ensure that enough funds are on hand to pay off all domestic bets that have been made. The Unit will also track all betting lines to police whether or not the sports is approved.
The VT state legislature adjourns on May 28th, so with the bill introduced so late in the game, the movement could simply be posturing to check the temperature for a reintroduction at a future session.
If the sports betting bill does indeed pass before the session concludes, it has an active date of July 1, 2021. If the state can move swiftly, they could start taking wagers in time for betting on the NFL season in September.
Until regional lawmakers can come to an agreement on VT S0077, offshore sports betting sites are available in the area online via laptops, PCs, and mobile devices, and will continue to be of service even after domestic books open up for VT patrons.
Source: VT Legislature