Why is Vermont Looking to Ban Sports Betting Just One Year After Legalizing It?

One of the newer states to enter the legal sports betting market is Vermont. In January of last year, the state finalized a bill which made sports betting legal within its borders. They approved the operation of sportsbooks owned by Fanduel, Draftkings, and Fanatics. They declined to allow other vendors to work in their territory, including BetMGM and ESPNbet.

Sportsbooks which operate in Vermont are required to pay a $500,000 application fee, pay the state 20% of the take and $366,666 per year in fees. No word yet if these companies will get a refund if Vermont is successful at shutting down sports betting in the state.

More About the New Bill to Outlaw Sports Betting in Vermont

House Bill 133, introduced by Democratic Representative Thomas Stevens seeks to outlaw the fledgling sports betting market in the state. The reason given by the bills sponsors are that gambling affects low-income people disproportionately and the activity creates new “problem gamblers”.

Opinion

This is the main argument which has been used against sports betting since its inception. Basically, the government thinks people are too dumb and/or irresponsible to handle sports betting on their own.

As low as 1% of gamblers become addicts whereas the lowest range for activities such as drinking alcohol start at 5% and top out at 15%. If they were truly worried about people overdoing an activity that is harmful, alcohol should be on the chopping block, much sooner than sports betting. Besides, because 1% of people cannot control themselves, should 100% of the people not be allowed to partake?