Vermont Sports Betting – Launch Info, Online Sportsbooks, and News 3m6e5o

Jubilantly “bounce around the room” if you are a sports betting fan in Vermont! Vermont has become the House and Senate. 6h22

Governor Phil Scott made it official on June 15 when he signed the bill, making Vermont the third state in 2023 to legalize sports betting. The bill allows up to six sportsbooks on digital platforms to infiltrate the Green Mountain State. SportsHandle is here to break down all you will need to know about sports betting in Vermont.

Vermont sports betting information 4i4o57

It was somewhat surprising to see the speed at which HB 127 made its way through the legislature in 2023. Vermont has studied the issue of sports betting in the past, but there has been no real push to legalize the activity prior to 2022. In just over a year, sports betting went from a legislative afterthought to being fully legalized. Specifics of HB 127, which allows for sports betting in the state, include:

Regulation and oversight 2s593n

The Vermont Department of Liquor and Lottery (DLL) will be the primary betting regulator in the state. Unique to this bill, the DLL will be empowered to determine the tax rate on a case-by-case basis with the sports betting operators as opposed to a traditional fixed-rate used by most states.

Vermont sports betting will be online-only 6x2e3v

Vermont s licensed online betting apps.

Five major operators submit bids in Vermont 6v1w2q

Per its shiny new law, there are a minimum of two and a maximum of six mobile sports betting apps licensed in the state of Vermont, with no retail locations. All bets are placed online through a computer or VT sportsbook mobile app.

In September 2023, PENN Entertainment.

Launch Date! 2r3s3i

Now that Vermont has legalized sports betting, it didn’t take much time for Vermont online sports betting to launch. The Green Mountain State went live on January 11, 2024!

Fanatics Ready to Go Day 1 5w5p15

Fanatics Sportsbook and DraftKings Sportsbook ed FanDuel Sportsbook on January 11 for Vermont’s universal sports betting launch day.

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DraftKings Sportsbook Vermont: Now Live! 1tq1g

Taxes and fees for betting in Vermont 683y26

Each mobile operator will be charged an annual licensing fee of $550,000 for the first years of legal sports betting in Vermont. Beyond that, a recurring annual fee is yet to be determined.

There will be an adjusted tax rate on winnings of 6% for Vermont residents and 7.25% for out-of-state players.

No less than $250,000 annually will be funneled to the Responsible Gaming Special Fund that will help promote responsible gambling efforts in the state.

Betting on college sports in Vermont l6x4s

Vermont sports betting law does allow wagering on college sports; however, betting on in-state colleges is prohibited (unless they are playing in a tournament). This probably won’t end up being a huge deal, because the University of Vermont is the only Division-1 school in the state, and they do not have a football team.

Age requirement set at 18 466k2n

The legal sports betting age in Vermont has been set at 18, however, that’s not necessarily a guarantee that sportsbooks will accept these younger customers. Nationwide the legal betting age has predominantly been set at 21+, and with the industry focusing heavily on responsible gambling initiatives, some operators have indicated they may not service younger s regardless of local law.

For example, Kentucky, who also legalized betting in 2023, also set their sports betting age at 18. However, Caesars has already announced that it will only serve customers 21+ in the state. Time will tell on where companies choose to set the bar in Vermont.

Additionally, sports gambling promotion and advertising is illegal at events regularly attended by people under 21.

Vermont sports betting FAQ 17153u

The path to legal sports betting in Vermont 5s35c

While many bordering states have gone full steam ahead, Vermont has been steadfast in its methodical approach to legal sports betting. Just seven years ago, the Vermont attorney general’s office deemed daily fantasy sports games illegal, only for a state senate bill to override the ruling in February 2016. As a result, the new Department of Liquor and Lottery was created in 2018.

Early efforts fall in the House 5j1y5j

In March 2019, House Bill 484 was introduced to enable sports gambling and uniquely allow sportsbooks to extend credit to bettors. It was deemed low priority to Green Mountain state legislators and died in the House.

Sports betting study, time, leads to results 72251h

A year later, the state Senate Committee on Economic Development, Housing and General Affairs approved S59, a bill that created a sports betting study committee. Like a trickle of Vermont syrup out of a maple tree, two years ed until a draft bill surfaced laying the framework for permitting statewide mobile wagering. In the Fall of 2022, momentum finally began to build, leading to the current legislation, HB 127, ing the house on March 24, 2023. After sending the bill back for technical changes, the state senate amended the bill and it ed both houses of the state congress on May 9, 2023.

What’s next for sports betting in Vermont? w2q22

There was a time when there were major issues surrounding the operational launch of Vermont sports betting. Sponsors of HB 127 consistently forecasted two to three sports betting operators as the current language of the bill stands. However, once Vermont launched on January 11, three of the premier sports betting apps, FanDuel, Fanatics, and DraftKings, were ready to go!

The Vermont Legislative t Fiscal Office estimates that the state will receive between $4.6 million and $10.6 million in FY 2025 from sports wagering.

Potential Vermont online sportsbooks 725q3f

As mentioned, HB 127 puts the Department of Liquor and Lottery in charge of granting sports betting licenses through a competitive revenue-sharing bidding process. Neighboring New York used this licensing process, which resulted in nine different digital operators hitting the market.

As we’ve mentioned above, five of the biggest operators submitted bids for a sports betting license in Vermont. Here are some of the best sports betting sites in the US that could wind up in Vermont alongside FanDuel, Fanatics, and DraftKings:

• Unibet
• BetRivers
• BetMGM
• Betfred
• WynnBET
• ESPN BET Sportsbook
• Caesars Sportsbook

Legal sports betting in states surrounding Vermont 391is

With no professional sports teams and a unique vibe, it should come as no surprise that Vermont was the last state in New England to legalize sports betting. Even though online sports betting launched in January 2024 in Vermont, some bettors might still visit one of the three border states to place a sports wager in case the operators available in Vermont aren’t what they are looking for or they seek to bet in a brick-and-mortar sportsbook. As residency is not required for sports betting in the United States, one simply needs to be in the state where betting is legal. Luckily for Vermonters, there are plenty of options nearby.

New Hampshire 5w1g29

One of the early adopters, New Hampshire enacted sports betting in 2019 and within three years exceeded $1 Billion in bets placed. In a questionable deal, the state went into an exclusive partnership with DraftKings, making them the first and only operator in the Granite State.

Massachusetts 1s1211

Right on time for the Super Bowl and March Madness, legal sports betting in Massachusetts officially began in late January 2023. There are currently eight online sportsbooks operating in the Bay State and one more pending approval. Hugging most of Vermont’s southwestern border, the closest brick-and-mortar sportsbook for Vermonters is the BetMGM Sportsbook in Springfield. Like Vermont, Massachusetts prohibits betting on in-state college teams.

New York 5p4o3g

The Empire State has welcomed sports bettors for in-person wagering since 2013 and has offered online wagering since 2022. There are currently 12 land-based casinos in New York, with the Rivers Casino Schenectady being the sole convenient sportsbook to Vermont. There are currently 9 mobile sportsbook operators in New York, accessible to all persons as soon as they cross the border into the state.

Banking options for Vermont sportsbooks 5x4s4

Bettors in Vermont should be happy to know that whatever sportsbook they choose is regulated by the state government and will have many safeguards in place to protect customer deposits. Whatever banking method you choose for sports betting, your money will be safe at a legal, regulated sportsbook. Here are the most common ways Vermonters are able to fund their sportsbook s:

• ACH/eCheck
• PayPal
• Credit + Debit Cards
• Online bank transfer
• Prepaid Play+ Cards
• Paper checks
• PayNearMe
• Skrill
• Venmo
• Apple Pay
• Gift Cards (deposit only)

Popular Sports Teams in Vermont 2w5k24

As the second least populous state in America, no professional franchise has called Vermont home. Besides taking pride and ing their illustrious Olympic athletes, Vermont sports faithful have had to rely on many of their border states and small colleges and universities for sports allegiances. Yet, as sports fans know, the New England region sticks together when it comes to ing all things Boston.

MLB 46413y

The Red Sox are far and away the most popular MLB team in Vermont. Nonetheless, with the western side wholly bordering New York, there are some Yankees and Mets fans sprinkled about.

NFL nt4n

If there is one franchise that the Green Mountain State embraces above them all, it’s the NFL‘s New England Patriots. Though, similar to baseball, you might find some Jets and Giants fans in the state due to its proximity to New York state.

NBA/College Basketball 3g3n3j

With the storied NCAA basketball team holds a special place in sports fans’ hearts. With impressive runs to the NCAA Tournament in four out of the last six seasons, the Catamounts have been the pride of the American East Conference.

NHL/Hockey 3q4a2n

No matter one’s age, natives can’t wait for the ice to thicken and a neighborhood pond hockey match to commence. The Quebec/Canadian influence truly shines through with Vermont’s most popular sport. The locals split their NHL allegiances between the Boston Bruins and the Montreal Canadians, who play just two hours north of Burlington, the state’s largest city. Additionally, the storied University of Vermont men’s hockey team has produced 18 NHL players, with seven going on to win Stanley Cups, including John LeClair and Patrick Sharp.

Gambling history in Vermont 3n2o47

With a deep appreciation amongst residents for nature and the outdoors, a deep history of gambling in Vermont does not exist. Whether a local or traveler, Vermont has been known as a recluse from the busyness of society and the dopamine rushes of screen time. To that point:

• Regulated horse and greyhound track racing was only established during the tail end of the Kennedy istration and the last horse racetrack in Pownal closed in 2008. Despite the lack of live racetracks, betting on the ponies is permitted at off-track betting parlors.
• There has never been or any intention to explore having Native American tribe or brick-and-mortar casinos in Vermont.
• Voters approved a lottery in November 1976 with the subsequent first ticket sold in February 1978. For 20 years, all profits were dedicated for use by the state’s general fund until Vermont Legislature mandated that all profits go to the education fund in 1998.