Vermont residents and visitors can now partake in legal online sports betting as the state officially launches its mobile sports wagering platforms.
As of today, players in Vermont can conveniently download apps provided by licensed operators to place bets on their favorite sports events.
Furthermore, consumers have the option to pre-register with these operators in anticipation of next month’s full-scale launch.
This exciting development became a reality when Governor Scott signed House Bill 127 into law back in June of this year.
The legislation allows for up to six online sportsbooks to operate within the state’s borders.
After a rigorous competitive bidding process, the Vermont Department of Liquor and Lottery selected three prominent names in the industry to run mobile sports wagering platforms in the state: DraftKings, FanDuel, and Fanatics Sportsbook.
Operators in Vermont will be subject to a tax rate of 20% of their adjusted gross sports betting revenue, a move expected to contribute a significant sum to the state’s coffers.
It is anticipated that the introduction of legal sports betting will generate an additional $7.0 million in revenue during the first year of operation.
This financial windfall will not only benefit the state but also pave the way for increased resources dedicated to enhancing responsible gaming services in Vermont.
Under the provisions of the bill, individuals must be at least 21 years of age to legally place bets, ensuring that this exciting new form of entertainment remains restricted to adults.
Governor Scott, a longtime supporter of legal sports wagering, expressed his enthusiasm for the launch date, saying, “I first proposed Vermont legalize sports wagering several years ago. It’s good to see it come to fruition.
Vermonters and visitors alike will soon be able to access a regulated sports wagering marketplace, which will come with important consumer protections and generate revenue for the state.”
Commissioner Knight also chimed in, sharing the excitement by stating, “We are excited to offer sports enthusiasts the ability to engage in sports wagering in Vermont with three of the industry’s top companies.”
As Vermont embraces the world of legal online sports betting, both sports fans and the state itself stand to benefit from this new and exciting venture.