Vermonters will likely be able to place legal bets on sporting events starting in January.
Currently, Vermont is the only state in the Northeast that does not allow online sports betting. But the Senate advanced legislation last week to change that.
Under the bill, the Department of Liquor and Lottery would administer the program and license a limited number of national gambling companies.
It is estimated that sports betting could raise roughly $10 million a year in new revenue when fully implemented.
Windsor Sen. Alison Clarkson said there are several goals with the bill.
“It captures lost revenue which would otherwise go to other states or offshore criminal organizations. It moves sports wagering from the dangerous illicit market to a safe legal and regulated market,” Clarkson said.
The bill also reserves roughly half a million dollars a year to fund treatment programs for Vermonters with gambling problems.
The House has approved a similar bill and the plan enjoys the support of Gov. Phil Scott.
