Lawmakers in Vermont continue to discuss a measure that would see the state launch its own mobile sports betting market. While some are still reluctant to expand the state’s wagering industry, others believe that legal betting will prevent the black market from reigning supreme.
The bill in question goes under the name H.127 and, if passed, would see Vermont provide two to six companies with mobile sports betting licenses. The vertical will be regulated by the Department of Liquor and Lottery, which serves as the state’s gambling authority.
H.127’s backers say that The Green Mountain State will greatly benefit from a legal mobile sports betting ecosystem. They argue that the state is currently losing a lot of money to the black market, which allegedly has many customers in the state. Some believe that Vermont is losing millions in potential tax revenue because of not having a legal market.
A Bid to Curb the Black Market
Representative Matt Birong cited his personal experience as an example. He said that he had been invited to a Super Bowl party where he saw many people place bets with unregulated mobile sports betting operators.
It is a well-established fact that unregulated gambling companies are not bound by the same rules that bind their licensed counterparts. As a result, players who opt to play with illegal companies are exposed to greater risks. Unlicensed operators, for example, rarely offer sufficient player protections. According to Birong, licensed gambling giants are much more reliable and deserving of players’ trust.
As further evidence of how dangerous the black market is, lawmakers addressed data that GeoComply recently shared with the House Committee on Government Operations and Military Affairs. According to that data, as many as 17,000 had tried to access illegal sports betting platforms between September 2022 and February 2023.
GeoComply is a reliable geolocation specialist that recently shared data about the performance of Massachusetts’ fresh online sports betting market.
Vermont Should Also Take Safer Gambling into Consideration
Proponents of H.127 believe that establishing a safe and legal mobile sports betting market will benefit the entire state. However, while the measure has strong backing, certain concerns remain. as lawmakers are still uncertain about how Vermont will deal with problem gambling.
Even if H.127 makes the vote, many believe that the state should secure problem gambling resources and education before launching online sports betting. Since the state is yet to foray into the world of online gaming, such a system would have to be built from scratch.