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Vermont Senate Advances Online Sports Betting Bill

May 5, 2023 3

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Vermont Senate Advances Online Sports Betting Bill

The Vermont Senate has given preliminary approval to H.127, a bill that would legalize online sports betting in the state. The legislation would allow up to six companies, such as DraftKings and FanDuel, to operate sportsbooks in Vermont. The bill proposes a dedicated fund to hold the revenue and fees collected by the state in its role overseeing the market, with some of the money set aside for programs and resources targeting problem gambling. The Senate’s version of the bill maintains a House proposal that Vermont take at least 20% of the adjusted gross revenue that sports betting operators make in the state each year, but changes the operating fees charged to each company. Senators also agreed to remove language from the House version that would have capped the amount of money sports betting operators could spend on advertising. The bill still needs to get final approval from the Senate before returning to the House for review. If passed, Vermont’s legal sports betting market could be up and running in January 2024.

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