A dispenser for dispensing a beverage from a beverage bottle, especially for dispensing wine from a wine bottle and facilitating the aeration of the dispensed wine while it is being poured to shorten the time normally devoted to breathing the wine. An open lesser end of the dispenser inserts into the neck of a wine bottle and preferably seals therein. A valve may be closed to temporarily preserve the wine in the bottle for later aeration while dispensing.