Vermont legislators Thomas Stevens, Troy Headrick, and Michael Mrowicki have introduced Bill H.133 to repeal statutes authorizing the state lottery and online sports betting, just one year after Vermont legalized online sports betting. The bill has been referred to the House Committee on Government Operations and Military Affairs. While the three sponsors had not been vocal in opposition to online sports betting before, Rep. Headrick expressed concerns that tax revenues are mainly generated by low-income gamblers.
In its first year, Vermont generated $198.7 million in handle and $21.9 million in gross revenues from online sports betting, with almost 30% coming from out-of-state bettors. While tax revenues fell slightly short of projections, the state saw success overall. However, the introduction of the bill to repeal these statutes may seem premature, especially as states face financial uncertainties and potential spending cuts.
Amy Calistri, a sports fan and experienced writer in sports and gambling industries, mentions that turning down tax revenue from sports betting at this time may not be ideal. While legalized sports betting may not have unanimous support in Vermont, the financial benefits could be crucial in the current economic climate. As the bill moves through the legislative process, the future of online sports betting in Vermont remains uncertain.
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