The FIBA 3x3 Basketball World Cup delivered an exciting tournament for fans and showed that this format has developed far beyond its street basketball origins.
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Vermont weighs sports betting ban after just one year
Vermont, a state in the northeastern United States, considers closing its doors to the sports betting market after keeping them open for only a year.
Introduced by Democratic Rep. Thomas Stevens, the new bill, House Bill 133, aims to repeal the state’s sports betting and lottery provisions, shifting their badges to illegal activities. The bill has had its first reading and is now under review by the Committee on Government Operations and Military Affairs.
Currently, Vermont bettors can place wagers with DraftKings, FanDuel, and Fanatics after the state’s Department of Liquor and Lottery denied applications from ESPN Bet and BetMGM. Operators pay an expensive price to be in the market, including a 20% tax on gross gaming revenue (GGR), a $500,000 application fee, and an annual payment of $366,666.
One of the bill’s supporters, Rep. Troy Headrick, argues that gambling acts as a form of regressive taxation, impacting lower-income individuals the most. If passed, Vermont would make history as the first state to reverse sports betting legalization since the 2018 PASPA repeal.
The sports betting market has rapidly advanced in recent years. In 2024, the state collected over $6.3 million in tax revenue from sports betting, with operators generating nearly $20 million in GGR.
For many operators, entering regulated European markets still follows the same slow process it has for years. Every new market usually means negotiating with dozens of...
