Vermont Releases Legal Sports Betting Catalog for January 11 Launch

Legal sports betting will soon be available in Vermont, giving residents access to top sportsbooks in the near future.

The Vermont Department of Liquor and Lottery has been working diligently to compile a list of Vermont sports betting apps that will soon be available for use. Recently, they released a catalog of sports that will be open for wagering by Vermonters.

After a long wait, Vermont residents will finally be able to legally participate in sports betting starting on January 11, 2024.

The announcement was received with a blend of enthusiasm and a slight sense of relief. Governor Phil Scott expressed his satisfaction, stating that he had initially suggested the legalization of sports betting in Vermont years ago, and he is pleased to see it finally becoming a reality. He emphasized that both residents and tourists will soon have access to a regulated sports betting market that will provide consumer safeguards and contribute to the state’s revenue.

About the wagering catalog

Vermont’s sports betting regulators will be adopting a standard sports betting catalog template that is commonly used by other states in the United States legal sports betting industry.

Gamblers in Vermont will be able to place bets on a wide range of professional sports from around the globe, including popular leagues like NFL, MLB, NHL, NBA, and MLS, as well as more niche options like Major League Fishing and Drone Racing. They can take advantage of Vermont sportsbook promotions while doing so.

A total of 70 sports are available for selection in the state, including prominent professional sports leagues, NCAA competitions (with some exceptions), and various international tournaments and events worldwide.

Exclusions to the list include in-state college teams, unless they are participating in a postseason event such as March Madness, as well as Minor League Baseball, which features Vermont’s only professional sports team, the Vermont Lake Monsters.

In Vermont’s legal sports betting market, amateur sports, as well as bets on athletes under the age of 18, will be strictly banned.

Vermont regulators approved 24 sanctioned esports events for legal sports wagering, a decision that caught some off guard and set them apart from other U.S. jurisdictions with legal sports betting.

Where Vermont’s legal sports betting industry stands

By the conclusion of the previous week, Vermont had finalized its official sports betting offerings, compiled a list of potential providers, and set a launch date for its legal sports betting platform.

FanDuel Vermont, DraftKings Vermont, and Fanatics Vermont are all set to launch in Vermont once the platform is live. Initially, it will be a mobile sports betting platform only, with no mention of retail sports betting in the state at this time.

Expectations

Vermont, being one of the smallest states in terms of population in America, is unlikely to see its legal sports betting industry grow significantly. Three operators will compete for a limited market share, facing a 20% revenue-sharing rate and a $500,000 licensing fee.

Analysts project that legal sports betting in Vermont could generate up to $7 million in tax revenue in its first year. Initial estimates were $2 million in the first year, with potential to increase to $4.6 million by 2026.