Vermont has officially stepped into the arena of mobile sports betting, marking a significant leap forward in the state’s gambling landscape. Governor Phil Scott announced the selection of three prominent companies—DraftKings, FanDuel, and Fanatics Sportsbook—to helm the state’s mobile sports betting platforms. With this move, Vermonters can now indulge in online sports betting while bolstering the state’s coffers.
A Win for Vermont’s Economy Vermont’s foray into mobile sports betting aligns it with nearly three dozen other states that have already embraced the online betting wave. Recognizing the economic windfalls and the surging popularity of online sports betting, states are increasingly joining the fray. However, there still exist pockets where online sports betting remains off-limits.
Governor Scott anticipates Vermont’s sports betting ventures to rake in a hefty $7 million in revenue within the inaugural year. These robust financial forecasts bode well for Vermont’s economic landscape, positioning mobile sports betting as a lucrative market segment and injecting vitality into the state’s fiscal framework.
Prioritizing Consumer Protection As Vermont delves into the realm of online sports betting, concerns surrounding consumer protection come to the fore. Governor Scott underscores the paramount importance of safeguarding bettors’ interests. Vermont’s regulated marketplace is fortified with stringent measures to ensure bettors’ well-being. Participation is restricted to individuals aged 21 and above, mirroring age requirements prevalent in numerous states and aligning with legal benchmarks for drinking and gambling.
Collaborating closely, Vermont’s Department of Liquor and Lottery, alongside the Department of Mental Health, will furnish the Legislature with an annual report assessing the impact of sports betting on Green Mountain State residents. This proactive stance aims to vigilantly monitor and address any potential adverse effects on individuals susceptible to problem gambling.
Licensed operators are mandated to submit annual responsible gaming plans, delineating their commitment to combating problem gambling. These plans encompass initiatives such as player limits, self-exclusion programs, and provisions for bettors seeking assistance with gambling-related concerns.
Good luck and have fun!
