Three Vermont legislators have introduced a bill aiming to roll back the state’s recently launched online sports betting market. Representatives Thomas Stevens (D), Troy Headrick (I), and Michael Mrowicki (D) filed Bill H.133 on February 4, seeking to revoke the state’s authorization of online betting and the state lottery.
The proposal is currently under review by the House Committee on Government Operations and Military Affairs. Surprisingly, none of the bill’s sponsors had previously voiced strong opposition to sports betting.
Troy Headrick, the only sponsor who has publicly commented, expressed concerns about the state’s gambling tax revenue. He told PlayUSA that he worries a significant portion comes from lower-income bettors.
Vermont’s First Year of Sports Betting
Vermont was the final New England state to legalize online sports betting, launching its market in January 2024. In its first year, sportsbooks generated a total handle of $198.7 million, with $21.9 million in gross revenue.
Interestingly, nearly 30% of the total bets came from out-of-state players. This shift marked a reversal of the previous trend, where Vermont residents would cross state lines to place wagers.
The state initially granted licenses to DraftKings, FanDuel, and Fanatics, with the potential to approve up to six operators. While Vermont collected $6.3 million in tax revenue from sports betting in its first year, the figure fell slightly short of initial expectations. Analysts partly attributed this to an unpredictable NFL season that impacted sportsbook profits.
With Vermont facing financial challenges, repealing online sports betting could be a tough sell. The revenue generated from gambling taxes provides a much-needed boost to the state budget, especially as federal funding cuts loom.
Given the industry’s rapid growth and financial contributions, Bill H.133 may struggle to gain widespread support in the legislature.
The post Vermont Lawmakers Propose Bill to Repeal Online Sports Betting appeared first on iGaming.org.