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Vermont Legal Sports Betting Launches Thursday

Davis Isabela

Updated as of January 10, 2024 at 12:54 PM EST. Read time: 2 minutes and 5 seconds. Find more information on Twitter and Google News.

Head coach John Becker of the Vermont Catamounts reacts as we look at the details surrounding the launch of Vermont's legal sports betting scene.
Head coach John Becker of the Vermont Catamounts reacts against the Marquette Golden Eagles during the first half in the first round game of the NCAA Men’s Basketball Tournament at Nationwide Arena on March 17, 2023 in Columbus, Ohio. Dylan Buell/Getty Images/AFP

Vermont residents have been eagerly awaiting the arrival of legal sports betting, and the wait is finally coming to an end. Starting at 12:01 ET on Thursday, some of the top sportsbooks will be going live, just in time for the NFL Wild Card Weekend.

After four years of legislative debate, Vermont sports betting will finally launch on Thursday. Despite the lengthy process, a mobile-only platform was developed in just seven months after being signed into law by Gov. Phil Scott.

Three operators to go live

The Vermont Department of Liquor and Lottery initially selected six potential sports betting providers to debut in the Green Mountain State. However, only three Vermont sports betting sites have been approved thus far, including DraftKings Vermont, Fanatics Underscoreg Vermont, and FanDuel Vermont, which are set to be the first Vermont sports betting apps to launch.

BetMGM’s license application was denied by state regulators due to an inadequate revenue-sharing plan, while Penn Entertainment’s ESPN BET failed to submit proper paperwork, leading to rejection by regulators.

Preregistration will close before midnight, but starting on Thursday, bettors located within Vermont can download their preferred mobile sports betting site, access promotions from Vermont sportsbooks, and begin placing bets.

More about the Vermont legal sports betting platform

As previously stated, three out of a potential six mobile sports betting licenses in Vermont have been approved to launch on the first day of the state’s legal sports wagering platform. These three mobile sportsbooks will be open to all individuals 21 years of age or older who wish to place bets while within Vermont’s borders.

In Vermont, sports bettors can expect to find a variety of betting options on popular North American sports such as the NFL, MLB, NBA, and NHL, along with over 70 other sports including esports.

Betting on high school sports is prohibited by Vermont state law, while betting on NCAA teams from the state is only allowed during tournaments like March Madness.

State providers will be taxed at a rate of at least 20% of their adjusted gross revenue, and each provider must pay an initial licensing fee of $550,000. FanDuel will pay a tax rate of 33%, while DraftKings and Fanatics will pay 31% under the tax policy.

The tax revenue projected for the first year of operation in the Vermont market is $7 million.

Special offers

The first three legal sports betting providers in Vermont are offering attractive sign-up promotions for new bettors in the state.

FanDuel Vermont is offering $200 in bonus bets to customers who place a $5 wager and deposit at least $10 into their account. Additionally, FanDuel will be using their “Super Boost” product on Thursdays in the state. Before the official launch, FanDuel had a pre-launch special that offered $100 in bonus bets.

Fanatics Underscoreg Vermont is running their standard promotion for new clients in the Vermont market: bet $50 or more and receive $200 in bonus bets. To qualify, new clients must place a minimum of $50 in wagers over the first five days of operation in Vermont, with at least one wager made each day.

DraftKings has not yet revealed a launch promotion in Vermont, but bettors can expect it to be competitive.

Written By:
Davis Isabela
Davis Isabela is the Editor-in-Chief of Underscoreg Review. He has been a writer, reporter and editor for more than 20 years, and his work has appeared in more than 200 publications across North America. His first book, “100 Greatest Canadian Sports Moments”, was a hardcover best-seller in Canada in 2008. He has written more than 50 sportsbook reviews and dozens of other sportsbook-related content articles. James has also been quoted as a sports betting expert in USA Today and Sports Illustrated.