Skip to main content

Vermont on Track to Launch Legal Sports Betting in January

Davis Isabela

Updated as of December 12, 2023 at 1:54 PM EST. Read time: 1 minute and 58 seconds. For more information, check out the Twitter and Google News links.

Matt Veretto #24 of the Vermont Catamounts celebrates as we look at our pre-launch FanDuel promo code
Matt Veretto #24 of the Vermont Catamounts celebrates a three point basket 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. Photo by Dylan Buell/Getty Images via AFP.

Vermont is poised to become the next legal sports betting jurisdiction in the expanding U.S. market, offering a home to some of the top sports betting apps.

In a statement, Governor Phil Scott expressed his satisfaction with the legalization of sports wagering in Vermont, a proposal he had put forth several years ago. He highlighted the benefits of a regulated sports wagering marketplace, including consumer protections and revenue generation for the state, which will soon be accessible to Vermonters and visitors.

Although an official launch date for Vermont sports betting apps has not been announced, indications suggest that the beginning of 2024 will mark the commencement of legal sports wagering in the state. Three betting site providers have been selected to kickstart the Vermont sports betting market, and regulators are considering adding up to three more to expand the state’s legal sports betting options.

Last week, Wendy Knight, the commissioner of the Vermont Department of Liquor and Lottery (DLL), confirmed that we are on schedule to launch online sports wagering in Vermont in January 2024. She mentioned that there will be additional details available early next week.

The upcoming meeting of the Vermont Department of Liquor and Lottery on Wednesday is anticipated to offer additional insight.

Three sportsbooks to go live

Due to its size, Vermont has limited sports betting activity at top sportsbooks, resulting in limited revenues for potential successful sportsbooks in the state.

The state’s legal sports betting platform, offering Vermont sportsbook promotions, is not anticipated to generate significant revenue. With a population of approximately 650,000 residents and no professional sports teams, large profits are not projected due to Vermont being the 49th largest state in America.

DraftKings, FanDuel, and Fanatics are the fortunate trio vying for market dominance in the sparsely populated state.

Knight expressed enthusiasm about providing sports enthusiasts in Vermont the opportunity to participate in sports betting with three of the industry’s leading companies.

According to Vermont’s sports betting laws, up to six online sportsbooks may potentially be vying for market dominance in the state known as the Green Mountain State.

More about the impending platform

Legislators in Vermont approved a bill legalizing sports betting in June, aiming to launch wagering in the state by January. Key sporting events such as NFL playoffs, College Football Playoff, and the Super Bowl serve as driving forces for states looking to implement legal sports betting.

Vermont is set to become the third state in America to exclusively offer online sports betting. Licensees will need to pay an initial fee of $550,000 for Vermont sports betting app licenses and agree to a 20% revenue-sharing rate.

Analysts anticipate that legal sports betting in the state will generate up to $2 million in tax revenue in its inaugural year. By 2026, when the industry is fully established, Vermont’s joint fiscal office projects that this figure could increase to as much as $4.6 million.

When Vermont’s legal sports betting launches, responsible gaming measures will play a critical role.

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.