- Basketball was the most bet on sport in Vermont for 2024.
- The first year of action saw VT sportsbooks collect nearly $200 million from sports bets.
- The State of Vermont received over $6.3 million in sports betting taxes from Year 1.
- Tennis saw a high percentage of action too, as the fourth most bet sport in Vermont.
- Compared to a mature Rhode Island market, Vermont shows great promise.
MONTPELIER, Vt. – Vermont celebrated their first full year of legal sports betting in early January but the year end report released by the Department of Liquor and Lottery shows just how successful the state was.
With nearly $200 million wagered and significant tax revenue generated, the numbers paint a picture of a small but engaged betting community.
Basketball Leads the Way
Vermont’s first year was dominated by basketball betting, generating a total handle of $54.5 million. This was driven by strong regional interest in two championship seasons by the Boston Celtics and UCONN Huskies men’s basketball team. Whether it was NBA betting that took the lead or college basketball betting, the report doesn’t say.
Football followed with $39.7 million in bets, reflecting the NFL and college football seasons’ influence.
Notably, tennis betting ranked fourth with a handle of $17.1 million, surpassing soccer and highlighting a unique interest among other states with sports betting.
Total Betting Handle and Revenue
In 2024, the amount of money bet on sports in Vermont was $198.7 million. From this, Vermont sportsbooks generated $19.85 million in adjusted gross revenue. The state benefitted significantly, collecting $6.34 million through a revenue share rate of 31.95%.
The highest handle was recorded last month (December 2024) at $24.4 million, while the lowest came in July at $9.46 million, reflecting seasonal trends in the legal sports betting industry.
Breaking down the numbers further, Vermont saw a total of 8.7 million bets placed throughout the year, with an average bet size of $22.83.
In-state bettors accounted for the majority of activity, contributing $140.6 million in handle from nearly 19,000 active monthly users. Meanwhile, out-of-state visitors placed $58 million in bets, a figure surprisingly high considering Vermont borders states with online sports betting on every side.
Using Rhode Island To Project The Future
As Vermont enters its second year, the potential for growth remains strong. With a population of just over 640,000, Vermont’s per capita betting activity has already positioned it as a competitive market.
For comparison, Rhode Island—a state with double Vermont’s population and over six years of established sports betting—was only slightly ahead in terms of per capita betting.
Take February-April 2024 – Vermont’s second-fourth month of sports betting – compared to Rhode Island entering Year 6.
State | February Handle | March Handle | April Handle |
---|---|---|---|
Rhode Island | $38,758,578 | $44,895,394 | $37,709,038 |
Vermont | $21,249,830 | $20,196,054 | $17,083,302 |
Vermont’s ability to remain around half (or greater) of the betting handle at Rhode Island sportsbooks show the immediate success.
Continued growth could push Vermont to slightly higher numbers because of the Australian Open, Super Bowl, and March Madness early in 2025. If so, expect Vermont to start become a great per capita market in the coming years.
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News tags: Boston Celtics | DraftKings | Fanatics | FanDuel | Rhode Island | UConn Huskies | Vermont

After spending time scouting college basketball for Florida State University under Leonard Hamilton and the University of Alabama under Anthony Grant, Michael started writing focused on NBA content. A graduate of both schools, he now covers legal sports betting bills, sports betting revenue data, tennis betting odds, and sportsbook reviews. Michael likes to play basketball, hike, and kayak when not glued to the TV watching midlevel tennis matches.