Vermont sports betting began Thursday with DraftKings, FanDuel, and Fanatics Sportsbook taking wagers via their online platforms for those over 21 inside the state. 

There is no retail betting allowed in the state. 

Gov. Phil Scott and Lottery Commissioner Wendy Knight had previously said Vermont betting apps will be live in time for the first round of the NFL Playoffs, which start on Saturday. 

“I first proposed Vermont legalize sports wagering,  several years ago. It’s good to see it come to fruition,” Governor Scott said in a release on Dec. 12 “Vermonters and visitors alike will soon be able to access a regulated sports wagering marketplace, which will come with important consumer protections and generate revenue for the State.”

Vermont is the sixth and final New England state to launch sports betting, and the third to do so since the start of 2023. Maine went live in November, Massachusetts launched retail betting in January and mobile betting in March. 

Gov. Scott signed House Bill 127 in August, which authorizes the state’s Department of Liquor and Lottery to oversee sports wagering. It's expected that sports betting will bring $7 million in new revenue to the state in Year One. 

“We are excited to offer sports enthusiasts the ability to engage in sports wagering in Vermont with three of the industry’s top companies,” said Commissioner Knight.

Can You Bet On The Catamounts?

The sports betting bill was introduced in January of 2023 by a bipartisan group of 10 state House members. 

The law authorizes DLL Commissioner Knight to negotiate with and authorize a minimum of two but not more than six operators to provide sports betting in Vermont through mobile platforms. The law does not legalize the creation of retail sportsbooks.

Following the model of Massachusetts, Vermont prohibited legal sports betting on in-state college teams except tournament play—giving the OK for residents to wager legally on the home-state Vermont Catamounts in the NCAA men’s basketball tournament, for instance. 

Amateur and professional athletes are forbidden from wagering on events overseen by the governing body of the league or conference in which the athlete competes.

Under the terms of the Vermont law, the term “sports wagering” includes single-game bets, teaser bets, parlays, over-under bets, moneyline bets, pools, exchange wagering, in-game 3wagering, in-play bets, proposition bets, and straight bets. All wagers must be initiated and received within the state, and credit cards cannot be used to fund sports betting accounts. 

“I first proposed Vermont legalize sports betting several years ago, and I’m happy the Legislature has come to an agreement as well,” Scott said during the signing. 

“We know many Vermonters already participate in the marketplace, and bringing it above board provides important resources and consumer protections. Vermont now joins many other states who have made this move.”

$10M In Tax Revenue By 2025?

Each sports betting operator in Vermont would pay a $550,000 annual license fee for at least three years, in addition to a minimum revenue sharing rate of 20%. 

The state’s fiscal office projects that sports betting tax revenues in Vermont could grow from $2 million in 2024 to up to $10.6 million in 2025. Proceeds from sports wagering will be deposited into the state’s general fund. 

RELATED: Massachusetts Sports Betting: DraftKings Off Hook For $575,000 Payout

A sports betting report presented to Vermont lawmakers from the sportsbook FanDuel claimed that roughly 140,000 residents of the Green Mountain State were wagering illegally, a number that could translate into $31 million in estimated legal sports betting revenue. 

Illegal offshore books were particularly appealing in Vermont, the report added, because it offered virtually no legal gambling options outside of the state lottery.

That will now change, perhaps as early as January of 2024. The Vermont law directs sportsbooks operating in the state to take measures to verify the age, identity, and location of customers, set wager limits consistent with best practices in the industry, and set aside a portion of revenues that will go into a problem gambling fund. In addition, sportsbooks cannot advertise on products intended for those under 21, or create advertising aimed at those under 21.

Maine’s launch delays notwithstanding, Vermont becomes the final piece of a Northeast puzzle that is now in compete lockstep behind legal sports betting. In addition to New England, mobile sports betting is also legal in New York, New Jersey, Pennsylvania, West Virginia, Maryland and Virginia. Delaware is the lone outlier in the region—but even the First State allows retail sports wagering.

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