Launch of Online Sports Betting

Vermont officially launched legal online sports betting with DraftKings and FanDuel as two of the key operators.

Licensed Operators

DraftKings, FanDuel, and Fanatics Sportsbook were granted sports betting licenses after a competitive bidding process by the Vermont Liquor and Lottery Commission.

Significant Revenue Projections

The state of Vermont is expected to receive approximately $7 million in sports betting tax revenue in 2024.

Restrictions on College Sports Betting

While betting on college sports is allowed, Vermont prohibits bets on in-state colleges and universities unless they participate in a tournament like March Madness.

Promotional Offers

Both DraftKings and FanDuel have launched promotional offers, such as betting $5 to get $200 in bonus bets, to attract users in Vermont.

DraftKings' Environmental Contribution

DraftKings announced a commitment of $25,000 to the Arbor Day Foundation for reforestation projects in Vermont.

Long Legislative Process

The legalization of sports betting in Vermont was a multi-year process, with Governor Phil Scott signing the sports betting bill into law over six months prior to the launch.

Failed Licensing Attempts

Notable companies like BetMGM and ESPN Bet failed to secure licenses in Vermont, even though the department could issue up to six licenses.

Consumer Protections and Revenue Utilization

The legalization comes with consumer protections and a portion of the revenue is allocated for programs to help those struggling with gambling addiction.

Vermont's Position in New England

Vermont was the last state in New England to legalize online sports betting.