Vermont Sports Betting

  • DraftKings, Fanatics Sportsbook, and FanDuel will begin offering online sports betting in Vermont on Jan. 11, 2024.
  • ESPN BET and BetMGM also submitted applications but weren’t named as Vermont sports betting operators.
  • Vermont expects to earn more than $7 million in sports betting revenue for 2024.

MONTPELIER, Vt.Vermont governor Phil Scott announced online sports betting will launch on Jan. 11, 2024. Following the announcement, pre-registration is available for the three Vermont online sports betting operators.

DraftKings, Fanatics Sportsbook, and FanDuel will offer legal sports betting to Vermont residents after winning a competitive bidding process. BetMGM and ESPN Bet also applied for sports betting licenses, but the Vermont Department of Liquor and Lottery ultimately chose the former three operators.

“I first proposed Vermont legalize sports wagering several years ago, and it’s good to see it come to fruition,” said Governor Scott in a release. “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 Sports Betting Revenue Expectations

Vermont anticipates over $7 million in 2024 from sports betting tax revenue. The state’s revenue structure with sports betting operators guarantees a sizable chunk of revenue for years to come.

The Vermont Department of Liquor and Lottery agreed to contracts with each operator for a minimum of three years. Each Vermont sports betting license costs $550,000, so the sports betting operators can lower their annual cost by agreeing to longer contracts with the state.

In addition to the licensing fees, Vermont also receives a percentage of each operator’s adjusted gross gaming revenue. The percentage of operator revenue shared with the state was determined in the application process, with more generous operators earning a higher approval rating in Vermont’s unorthodox application system.

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