If you want to learn how to become a bookmaker, it is imperative that you know everything you can about the sports betting industry. This means understanding the many betting markets from your region. And one of the most awaited betting markets are finally going live, with sports betting in Vermont to finally launch on January 11, 2024.
After more than a year of studies, legislation, and reviews, the date is now set, and so are the regulations. Here are some things to remember for betting in Vermont. First, would be the registration process. Even though sportsbooks will not go live until January, people can go to their sports betting platform, and pre-register.
Sports Betting in Vermont Finally Begins
The betting market in Vermont is similar only to Tennessee. Both state only offer online sports betting, and have no brick-and-mortar sportsbooks. But given how popular online betting is, it is no surprise that legislators opted for a more convenient way for residents to bet. Currently, the state will only issue licenses to six online sportsbook operators.
As to what residents can bet on, there are many options one can find in their sports betting software. However, for Vermont, there will be a few exeptions. First, they will not allow betting on any Vermont college. The caveat is, you cannot bet on them unless they are participating in March Madness or a similar tournament. In addition, high school or college games taking place in Vermont are also off-limits. Also, they do not allow betting on amateur and professional sports or events where the participants are more or less under 18.
Operators will also have to cough up $550,000 for an initial operator fee. Sportsbooks must also turn over at least 20% of their revenue to the state. The state expects to see around $7 million in state revenue from sports betting in the first full year of having sports betting go live.