Geolocation data suggests there is plenty of interest in sports betting in Vermont, but there is nowhere in the state to legally place a bet — yet.
The committee studying the potential of retail and online sports betting sites in Vermont heard Tuesday that there may be hundreds of residents that have been trying to make wagers.
Danny DiRienzo, senior director of government relations at GeoComply Solutions Inc., told the committee that the technology company had blocked more than 18,000 geolocation checks over the past 30 days by Vermonters trying to access legal sportsbooks elsewhere in the United States.
Vancouver-based GeoComply found those checks were done on approximately 3,200 unique usernames and that almost 67% of the checks were attempts to access online sports betting sites in neighboring New York, which launched mobile wagering in January.
The committee studying the potential legalization of sports betting in Vermont heard today that @GeoComply blocked more than 18,000 geolocation checks over the past 30 days for VT individuals trying to access legal U.S. sportsbooks. Most were trying to access New York's books. pic.twitter.com/FzZVKSAIFk
— Geoff Zochodne (@GeoffZochodne) November 1, 2022
DiRienzo said Vermonters are already familiar with GeoComply, which helps the major U.S. sportsbooks determine the location of would-be bettors and that serves the fantasy-sports industry in Vermont. The company processed 280,000 geolocation checks over the past 30 days for Vermonters accessing daily fantasy sports platforms.
GeoComply's usage also gives it insight into where and when people are betting, including that in New York, more than 80% of geolocation traffic occurs within 10 miles of the state’s borders.
“That obviously highlights the importance and effectiveness of pinpoint-accurate geolocation technologies,” DiRienzo said. “We want to maximize the play, at the same time as maintaining compliance with state and federal laws.”
Less is more
But the findings GeoComply shared on Tuesday underscored that there are people in Vermont interested in betting on sports. Moreover, the numbers suggest residents are even going so far as to try to access sites outside the state to attempt to wager.
Vermont is just one of 14 U.S. states that have not legalized or launched sports betting, and it is the only state in the New England region that hasn’t done so, either.
That, however, could be set to change. Vermont’s Sports Betting Study Committee will soon file a report to the legislature that will recommend lawmakers in the state legalize sports betting, among other things.
While it has also settled on recommending a minimum 20% tax rate and two to six operators, and for an online-only model at first, Vermont's sports betting committee still has some work left to do. It will take next week off due to the elections, but it will start meeting again the week after that and file a report to the legislature in December that lawmakers can use to plot the way forward when the legislature returns in January.
On Tuesday, the committee decided it would be recommending only limited requirements in whatever sports-betting bill is proposed, giving the state’s regulator some flexibility in setting rules.
“This committee is really recommending to the General Assembly that there's a minimum amount that goes into statute,” chair Wendy Knight said during their weekly meeting. “Less is better.”
