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May 08, 2023

Vermont Sports Betting To Launch In 2024? It Could Happen

Legalized sports betting in Vermont just came one step closer toward becoming a

Legalized sports betting in Vermont just came one step closer toward becoming a reality with the H.127 sports betting legislation.

The final state in New England just had its latest sports betting bill, H.127, passed by a voice vote during its third reading in the Vermont Senate on Thursday, May 4th. Since the bill originated in the House, it will be returned for a final concurrence that will subsequently send the bill to Governor Phil Scott's desk to sign into law. Read on to figure out when sports betting might be coming to Vermont with the best sports betting apps.

H.127 was originally introduced by Representative Matthew Birong as a proposed piece of legislation to get sports betting legalized in Vermont back in January 2023. In March, H.127 was approved by the House, with support from Governor Phil Scott. It entered the Vermont Senate chamber, which just used a voice vote to pass H.127 to send it back to the House for concurrence on Thursday, May 4th. During its time in the Senate, some amendments were made to the bill in an effort to ensure the quality regulation of approved online sportsbook operators.

Once legalized, you can expect the best sports betting sites to launch in the state with generous sportsbook promo codes lined up to entice new bettors ahead of launch.

H.127 was amended by six different committees following its introduction from Representative Birong at the end of January 2023. The primary goal of these amendments is to create safe and responsible guidelines around consumer protections, advertising and marketing rules, as well as defining the number of online sportsbook operators that will be approved for Vermont's future launch date.

One of the main criteria specifies that only two to six sportsbooks will be given licenses to operate in Vermont, assuming each operator passes all of the regulatory tests that the Vermont Department of Liquor and Lottery deploys. Another betting amendment in H.127's legislation emphasizes that only online sports betting apps will become legal and accessible to bettors in its sports betting market. No retail sportsbook facilities are included in H.127, which means Vermont is set to become the fourth state exclusively offering online sports betting, including the top PayPal betting sites, without any physical retail locations.

Vermont sports betting regulations consist of several factors, including an annual rate of $500,000 for a sportsbook operator to obtain a sports betting license that would be valid for three years upon the license being issued by the Vermont Department of Liquor and Lottery. The cost of an operator license would be driven down based on the number of operators that get approved by the state department for each of the remaining two years on its three-year contract. Instead of taxing operator revenue, the amended regulations specify that they will conduct a minimum revenue share set at 20 percent.

Another prominent betting regulation amended in the H.127 legislation includes the operator providing their advertising and marketing plans during their application process to control the influence of the legalized betting market. Whether it's avoiding the under 21 demographic, or preventing predatory marketing ads to other vulnerable audiences, H.127 includes all of these amended regulations that are expected to hit Governor Scott's desk to be signed into law by May 12th.

Those that are interested in sports betting in Vermont who are at least 21 years old will likely have access to the top sports betting sites like BetMGM and Caesars Sportsbook. Using the BetMGM Bonus Code ROTOBONUS currently gives new users a first bet up to $1,000 in bonus bets if their initial wager loses, and the Caesars Sportsbook Promo Code ROTOFULL offers the same up to $1,250. These sportsbooks might have different welcome offers when they launch in Vermont, so keep an eye out for generous welcome offers.