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Vermont’s Senate Finance Committee passed an amended legal sports betting bill on Tuesday, sending it to the Senate floor for full consideration.
The bill cleared the House on March 24 and was approved by the Senate Economic Development, Housing, and General Affairs Committee on April 13. Should the legislation pass the Senate and Gov. Phil Scott ultimately sign it into law, Vermont would be the second state this year to legalize sports betting after Kentucky, which authorized wagering on March 31. Vermont would also become the last of the New England states to legalize sports betting.
Vermont’s bill would allow only for statewide mobile wagering and no brick-and-mortar sportsbooks. Tennessee was the first state to approve sports betting on a digital-only basis when it did so in 2019, and Wyoming followed suit in 2021. Vermont’s proposal allows for a minimum of two platforms and a maximum of six, and it makes the Department of Liquor and Lottery the regulator.
Committee members, who met three times before moving legislation forward, were very focused on consumer protections, responsible gambling, and fees. The committee amended the bill to alter the fee structure in hopes of having it better reflect the cost to regulate sports betting. The amendment also includes a section that would allow the state of Vermont to collect taxes on wagering winnings by non-Vermont residents.
As part of the amendment, lawmakers agreed to earmark $550,000 from the sports betting enterprise fund for startup costs to regulate wagering. The fee would be used over three years and could be renewed.
Responsible gambling front and center
During Tuesday’s committee hearing, there was also discussion with Wendy Knight from Liquor and Lottery about making sure that platforms weren’t predatory and would be prohibited from having, for example, pop-up ads encouraging people to continue to bet.
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Knight was clear that the bill already contained stringent consumer protections and responsible gambling guardrails, and offered examples of how her department would make sports betting “as safe as we possibly can.”
“We want to have a robust market,” Knight said. “We’re trying to bring the illicit market to the regulated market … but we agree that we want to reduce harm as much as possible. … We understand that we are trying to sell, but then we also understand that we are trying to promote responsible consumption. … We understand there is some kind of dual mission with sports betting.”
The Vermont bill would create a revenue-sharing situation between operators and the lottery, and the current text sets the minimum amount of revenue share at 20%. It also would set tough advertising and marketing rules, including requiring that sportsbook advertisements and campaigns be approved by the Department of Liquor and Lottery. Furthermore, it would mandate that operators work with the department to “limit unwanted advertising and advertising aimed at persons under 21” and cap spending on advertising.
Vermont’s Senate meets every day for the rest of this week and is set to adjourn May 12.
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