Most forms of gambling are banned in Vermont, as is the possession of gambling equipment and slot machines. Private or social gambling at any location is also prohibited.
Like many states, the only exception to the rule is for non-profit organizations. Charitable groups may organize lotteries, raffles and other games of chance to raise funds for charitable, religious, educational and civic purposes. However, they can only hold a set number of events each year and the use of funds is strictly regulated. Political parties can also use raffles for fundraising purposes.
In 1959, pari-mutuel betting was made legal at racetracks and county fairs. Such races are still permitted; however, there are no longer any horse racing tracks or races held in the state.
A lottery was introduced after an act was passed and subsequently approved by referendum in 1976. The first state lottery appeared in 1978 with all profits directed to the state education fund.
There are no commercial or tribal casinos in the state and little appetite to introduce such facilities. It sports betting is legalized, it would be a landmark moment for the state.
Sports betting is illegal in Vermont, although it could become a reality as early as 2021 if the mobile only bill progresses.
No one currently controls sports gambling in Vermont. However, a state body would be set up to regulate the industry.
If sports betting becomes legal in Vermont, it is expected that an age limit of 21 will be applied.
As of Q3 2020, you cannot legally bet on sports in Vermont.
As sports betting is still technically illegal, there are no operators or licensees in the state of Vermont.
No companies offer legal sports betting in the state.
The proposed bill includes provisions for mobile betting in the state. However, this is not currently available.
Based on current participation rates and expected growth, studies have estimated that Vermont could generate between $1.1 million and $4.2 million from gaming revenue taxes.
The latest bill suggested a tax rate on a sliding scale as follows: If the gross revenue is between $50,000.00 and $134,000.00 a tax rate of $1,750.00 plus 4.5% of the gross revenue in excess of $50,000.00 would apply; and if the gross revenue is greater than $134,000.00 a tax rate of $5,530.00 plus 6.75% of the gross revenue in excess of $134,000.00 would apply.
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