Vermont Sports Betting Takes Step With New Proposal

2022 alone has seen the launch of some major sports betting markets. Throughout the year, New York, Louisiana, Ontario, Kansas, and Maryland have all gone live with sports wagering, with Ohio sports betting coming on New Year’s Day 2023. Meanwhile, other areas are working hard to get their own sports betting bills passed, and it looks like the state of Vermont could be one of the next to have online sports betting rolled out. Here’s the latest update on Vermont sports betting.

Vermont Sports Betting Gains Momentum With New Proposal

At the moment, neither online sports betting or retail sports betting are available in Vermont. However, the state might have just got some steam in legalizing sports wagering in the future. A new proposal has now been submitted to Vermont legislature, and hopes are high that the ball will get rolling on the future of sportsbooks in the Green Mountain State. Governor Phil Scott is in support of legal sports betting, which is definitely a good sign for its future. Plus, a study committee has been put together that advises state lawmakers to embrace sports wagering.

According to Vermont newspaper Seven Days, the committee, which is composed of nine members, has been doing research on the potential for Vermont wagering and has come out in favor of it. However, not everyone in the area is looking forward to a future with easily accessible sports wagering, with Rep. Tom Stevens and House Speaker Jill Krowinski not making legalization a priority. Still, the proposal makes it more likely that Vermont’s 2023 legislative session will include a discussion on sports wagering.

The potential tax revenue alone is though to ignore, even for lawmakers that aren’t in favor of the Vermont sports betting proposal. Although the state has the second-lowest population in the U.S., sports fans in the area would likely still bet consistently on local teams and other big squads alike.

Although Vermont might not have any major professional sports teams, fans in the area tend to cheer on nearby teams like the New England Patriots, Boston Bruins, and Boston Celtics. You can expect those fans to also place wagers on their favorite teams if the Vermont proposal gains traction and the state embraces sports betting.

Nearby States Have Seen Sports Betting Success

If there’s one major argument for the state of Vermont to roll out legal sports betting, it’s looking at how successful nearby states have been. Neighboring Connecticut has seen some big numbers with sports wagering, with the state seeing a total of $164.2 million throughout the month of October, which set a new state record. Maryland sports betting just launched mobile wagering the day before Thanksgiving, which has been a big hit in just a few weeks of availability. Meanwhile, Pennsylvania ranks as one of the top states for sports betting, with the area seeing a lifetime handle exceeding $17 billion.

And, while it hasn’t even been around for a year now, the New York sports betting is looking like one of the biggest in the nation, with already over $13 billion in total handle as bettors back the New York Jets, Buffalo Bills, New York Rangers, New York Knicks, and other popular local teams. Plus, the highly-anticipated Massachusetts sports betting market is getting ready to roll out in 2023.