Vermont is set to become the second state in New England to approve sports betting, following in the footsteps of neighboring New Hampshire. The state legislature passed a bill in 2020 that would allow for sports betting, but it was vetoed by Governor Phil Scott. However, the governor has since indicated that he is open to the idea and has included revenue from sports betting in his proposed budget for 2023.
Sports betting has become increasingly popular across the United States since the Supreme Court struck down a federal ban on the practice in 2018. As of 2021, 25 states and the District of Columbia have legalized sports betting, with several others considering legislation.
In Vermont, the proposed sports betting bill would allow for both online and in-person wagering on professional and college sports. The state would issue licenses to operators and collect a tax on their revenue. The revenue generated from sports betting would be used to fund education and other state programs.
Supporters of sports betting argue that it can provide a much-needed source of revenue for states, particularly in the wake of the COVID-19 pandemic. In New Hampshire, which launched sports betting in 2019, the industry has generated millions of dollars in revenue for the state.
However, opponents of sports betting argue that it can lead to problem gambling and addiction. They also point out that the revenue generated from sports betting may not be as significant as supporters claim, as much of it goes towards paying out winnings and operating costs.
Despite these concerns, it seems likely that Vermont will join the growing number of states that have legalized sports betting. With neighboring New Hampshire already reaping the benefits of the industry, it may be only a matter of time before Vermont follows suit.
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