Vermont on the Verge of Regulating Online Sports Betting

It is understood that the US state of Vermont could possibly set to approve the regulation of online sports betting.

Over the last couple of years, online gambling has significantly taken off in the US, especially following the aftermath of the global pandemic.

As a result of a bill being proposed, this was handed across to the Senate Finance Committee for the state and, as such, this has been approved.

What are the implications?

Based on the fact that a number of states over the last couple of years have witnessed considerably impressive performance, following the regulation of online sports betting, it could well mean that Vermont could well be primed to follow suit.

Should the bill be approved in its entirety, this could well lead to an elite lottery when it comes to the operators that will be allowed to be in the state offering online sports betting services to the residents.

Currently, there are at least two, but no more than six online operators that are allowed, under current regulations. Meanwhile, it is expected that each one will be taxed at least 20 per cent of their annual revenue, with this going directly to the state of Vermont.

Zero Major sports Franchises but significant potential?

It certainly is an interesting move from the state legislature to consider approving online sports betting, considering there are no major sports franchises that reside in the state.

However, the last couple of years have shown that the revenue potential from legislating online sports betting in various states is considerable. 

The fact that so much can be contributed towards the improvement of infrastructure in the state, via passing an online sports betting bill means that this could well be a gamble that may pay off.