Committee Reviews Recommendations for Sports Betting in Vermont

Back in 2021, the Vermont legislature commissions a sports betting study. The Vermont Sports Betting Study Committee has finally submitted their recommendations for Sports Betting in Vermont. With so many gambling markets with different regulations across the US, which you could read about in our gambling industry news, it can be hard to define regulations.

So the committee has been exploring a few options, or models, to implement in the state, should they legalize sports betting in Vermont. Their report estimates a handle that can range between $640,000 to $4.8 million in its first year alone, and up to $10.3 million in the second year. Anyone who wants to open a bookie operation knows how profitable sports wagering is.

Recommendations for Sports Betting in Vermont

The committee has looked at two main issues: the number of operators to allow, as well as having either a steep or a low tax rate. They have explored a combination of these factors to see which would yield the best profit, therefore the higher tax collection for the state. The estimates mentioned in the report are assuming a high rax rate with many operators. However, this model may not be applicable to Vermont.

When you manage a sportsbook pay per head operation, knowing your customer base is important. Given Vermont’s smaller population than other states, having too many operators may not be good. They may adapt something similar to the model used by states like New Hampshire, or Rhode Island. The state legislature’s session will start in January 2023, and will end in May. This gives the state enough time to form and decide on which sports betting regulations to use.

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