There is a sports betting ring in Vermont

There is a sports betting ring in Vermont

Sports betting is not allowed in Vermont. State investigators are looking into an alleged underground bookmaking operation.

Since the US Supreme Court struck down the federal ban on single-game sports betting in May of last year, Vermont lawmakers have considered legalized gambling on sports. Vermont has remained on the sidelines when it comes to legal sports betting.

The Vermont Department of Liquor and Lottery initiated an investigation into an alleged illegal sports betting network. Customers of the underground bookie said they were taken for tens of thousands of dollars by the unregulated operation.

Vermont is home to less than 644,000 people, making it the second least-populated state in the US. Flatlanders are people who moved north from Boston and other parts of the Northeast and Vermont does not have any professional sports teams.

The flatlanders bring their sports passion with them to Vermont. Boston sports teams are favored by Vermonters.

The investigation of an alleged underground sports ring by the Vermont Department of Liquor and Lottery isn’t the only reason why state lawmakers are taking another look at regulating sports betting. The Legislature’s nonpartisan Joint Fiscal Office recently completed a probe of the financial benefits the state might receive by allowing sports wagering.

In its 180-page report, the Joint Fiscal Office concluded that it would be in Vermont’s best interest to allow sports betting. It is necessary to move sports betting dollars currently being wagered illegally via offshore or underground bookies into a regulated environment. The office said that allowing sports betting in Vermont would eliminate the need for state residents to travel into a neighboring state to place a wager.

Vermont should not race to get the tax benefits of sports betting, says the state’s top officials. They want to make sure that gambling isn’t harmful to the public. The state-run Vermont Lottery is the lone exception to Vermont’s longstanding policy of shunning most gambling.

State Sen. Michael Sirotkin chairs the Senate Committee on Economic Development, Housing, and General Affairs.

He said that some people are more cautious than others when it comes to alcohol, marijuana, and gambling.

Summary:

The Vermont Department of Liquor and Lottery has initiated an investigation into an alleged illegal sports betting network. Customers of the underground bookie reported to the state that they were taken for tens of thousands of dollars by the unregulated operation. The state’s Joint Fiscal Office concluded that it would likely be in Vermont’s best interest to legalize sports betting.