Sports betting has been legalized in the state of Vermont

The northeastern state announced the legalization of the betting market and the launch of three bookmaking companies: DraftKings, FanDuel, and Fanatics. For Fanatics, this marks the tenth state in the United States where they now operate.

Licensed bookmakers will pay a tax rate of 20% on adjusted gross revenue. It is expected that players will generate revenue of up to $7 million within the first year.

To place a bet, participants must be at least 21 years old. The Department of Liquor and Lottery, along with the Mental Health Department, will annually provide the government with a report on the impact of betting. Operators will also submit a responsible gaming plan.