Vermont senators introduce bill to abolish sports betting
Bill H.133 referred to the House Committee on Government Operations and Military Affairs, just over a year after the state’s regulated sports betting market went live
A trio of Vermont senators have introduced legislation designed to repeal legalized sports betting and online lottery in the Green Mountain State.
Bill H.133 was introduced by Democratic representatives Thomas Stevens and Michael Mrowicki, as well as independent Troy Headrick, earlier this month.
The proposed legislation was first introduced on February 4 and has since been referred to the House Committee on Government Operations and Military Affairs.
Should the bill be passed, offering sports betting or lottery products in Vermont would be illegal as chapters 14 and 25 of the Vermont Statutes (regarding lottery and sports betting, respectively) would be removed.
Vermont’s regulated sports betting market first launched in January 2024, with DraftKings, FanDuel, and Fanatics selected as the market’s initial operators.
The current legislation allows for up to six online sportsbooks in Vermont, with operators paying a 20% tax rate on adjusted gross sports betting revenue.
This tax rate puts Vermont on par with the likes of Arkansas, Tennessee, Ohio, and Massachusetts.
During its first regulated year, Vermont’s sports betting market generated $198.8m worth of handle and adjusted gross revenue of $19.9m.
Tax revenue came to $6.3m for the year, just shy of the $7m projection made by Vermont’s Department of Liquor and Lottery when the market first launched.
It was also estimated that nearly 30% of Vermont’s sports betting handle came from non-Vermont residents placing wagers.
Basketball is the most popular sport based on handle in the state, with $54.5m wagered on the sport last year. NFL is second with $39.7m and MLB was third with $19.8m.