Vermont Sports Betting Bill Could Offer Credit To Bettors

• VT HB 484 will legalize sports betting and give consumers options
• Would be the first bill to offer credit for bettors
• The bill would legalize state-wide mobile sports betting

MONTPELIER, Vt. – A sports betting bill introduced this year could help Vermont to become the first state to allow bettors to extend credit for their bets.

VT HB 484 is one of three bills that are currently being considered by Vermont’s Congress. VT HB 484 would legalize and regulate sports wagering in the state. The other two bills are study bills that will help lawmakers better understand how to implement sports gambling in the state.

Something New For Sports Betting

This legislation is aiming to do something that that no other sports wagering bill has tried to do before. VT HB 484 will allow the state to create rules for license holders and allow them to extend credit to sports bettors. This is completely different from what sports bettors have experienced in brick-and-motor sportsbooks

The norm that has been established is that you would pay using cash to place your bets. But due to how popular mobile sports wagering is becoming across the country, Vermont wants to allow bettors to play on credit.

What Sports Betting Will Look Like In Vermont

Because the extension of credit part of the bill was inspired by mobile wagering, lawmakers are also planning to bring mobile sports betting to the state. Vermont legislators are aiming to allow residents to place their bets statewide. That means that bettors would not have to stay in a casino or any sportsbooks to use their mobile device. This could be because Vermont has no casinos available.

Because of the lack of casinos, VT HB 484 also proposes that sports betting kiosks would be placed in “sports betting lounges.” The bill doesn’t specify where these kiosks would be or what is defined as a sports betting lounge. This means the locations of land-based sportsbooks and sports betting kiosks is currently unclear. The rules of who you can and cannot bet on in the Green Mountain State are more defined.

Like all other sports betting bills, there are clear rules on what you can and cannot wager on. Most sportsbooks around the country will allow for you to wager on collegiate games and Vermont will be no different. The main thing that Vermont bettors will have to be aware of is that they will not be allowed to wager on games that feature colleges from the state. Other legal sports betting states in the New England area have implemented similar rules.

Allowing for credit to be used to bet on sports is something that no other state has allowed bettors to do. The study bills might give insight into how that will affect sports wagering in Vermont. With VT HB 484 being introduced recently, the bill has a large number of votes and discussions to go through before the bill will become law.