Vermont is Getting Close to Launching Sports Betting – Covers

There is no statutory date that legal sports betting must start in Vermont, but the request for proposals suggested state regulators were targeting a January launch.

Last Updated: Dec 11, 2023 12:50 PM ET Read Time: 2 min

Vermont may only be a month or so away from the launch of legal sports betting.

The request for proposals (RFP) for online sports betting in the Green Mountain State published earlier this year said the expected start date for contracts with operators was Jan. 1, 2024.

Moreover, Google announced on Dec. 5 that it will soon begin to accept and run ads for sports betting from state-approved entities in Vermont, another telltale sign that an event wagering launch is near.

For example, Google made a similar announcement about Kentucky-licensed sportsbooks in August, before the launch of legal sports betting in the commonwealth in September. The search giant did the same for Florida in November, when Hard Rock Bet relaunched in the Sunshine State.

Vermont regulators have yet to announce an exact start date or the winners of the bidding process. Nevertheless, the Board of Liquor and Lottery is scheduled to meet on Wednesday and possibly provide more details about the launch.

We are still on track to launch online sports wagering in Vermont in January 2024, said Wendy Knight, commissioner of the Vermont Department of Liquor and Lottery (DLL), in an email to Covers on Friday. We will have more information to share early next week.

Vermont lawmakers passed a bill to legalize sports betting in the state in June. The legislation envisions two to six online sportsbooks in the state selected through a competitive bidding process.

There is no statutory date that legal sports betting must start in Vermont. Again, though, the request for proposals suggested state regulators were targeting a January launch, which would allow bettors to wager on the NFL playoffs and March Madness at the very least.

Vermont is one of the smallest states by population, but a launch of online sports betting there will mean the entirety of New England will have some form of event wagering implemented. Also, judging by the list of interested parties, bettors aged 21 and older will likely gain access to some familiar names.

Five sportsbook operators bid for the online sports betting concession in Vermont: BetMGM, DraftKings, Fanatics, FanDuel, and what is now ESPN BET. By law, the state could license several operators to take bets in the state. It could also authorize one or none of those names if the bids are lacking.

This legislation empowers the [liquor and lottery] Commissioner to negotiate and contract a minimum of two but not more than six operators to operate a sportsbook in Vermont through a mobile sports wagering platform, the RFP said. If the competitive bidding process fails to produce a sufficient number of qualified bidders, the [Department of Liquor and Lottery] may decline to authorize any operators or authorize a single operator to conduct a sportsbook.

Whoever wins will have to turn over a share of their online sports betting revenue to the state that is no lower than 20% and pay a $550,000 initial licensing fee.

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Vermont is Getting Close to Launching Sports Betting - Covers