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Stoyan Todorov December 13, 2023 2 min read
Vermont Firmly to Launch Online Betting in January 2024
Vermont may not have professional sports teams, but this is no reason why the state shouldn’t have a legalized sports betting industry
This is precisely what is going to happen in Vermont on January 11, 2024, when the state officially launches sports gambling and seeks to close a long and passionately debated topic. Getting an early start would allow Vermont to catch the full action from the Super Bowl playoffs, and then move straight onto the Super Bowl.
Vermont to Flip the Switch on Sports Betting in Time for NFL Playoffs
The state is also going to benefit from the March Madness betting bonanza, as confirmed by Republican Gov. Phil Scott who confirmed the expected launch.
The Department of Liquor and Lottery in the state has already awarded mobile sports wagering licenses to DraftKings and FanDuel, but also Fanatics Sportsbook, which is looking to gain ground across the United States and pose a challenge to the established betting firms, using the significant war chest of its apparel business.
Department of Liquor and Lottery Commissioner Wendy Knight welcomed this, and said: “We are excited to offer sports enthusiasts the ability to engage in sports wagering in Vermont with three of the industry’s top companies.”
Vermont may seem hotly-contested, but the state is quite small with only 643,000 residents in 2023, which means the state cannot expect much in the way of sports betting tax windfall.
Yet, it’s an important way to close a loophole that lets the money go elsewhere, including to neighboring states or to offshore brands, and an estimated $7 million in tax revenue should be generated this way.
Protecting Consumers and Expecting a Good Turnup
“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,” boomed in a statement on Tuesday. The state is also taking due precautions as it wants to ensure that there are sufficient tools in place to protect vulnerable consumers.
To this end, there will be various problem gambling and gambling harm awareness resources made available. Operators will be expected to use player limits and self-exclusion, and third-party tools that offer the same protection to players.