Sports Betting in Vermont Starts Today – Key Details

Vermont is set to launch sports betting on Thursday, January 11 at 12 a.m. ET, nearly seven months after Governor Phil Scott signed the relevant bill. The decision comes after a lengthy four-year legislative journey, a comprehensive study on the benefits of sports betting in Vermont, and detailed regulatory decision-making.

Which Sportsbooks Will Be Available at Launch?

Initially, Vermont bettors can choose from three online sportsbooks: FanDuel, DraftKings, and Fanatics Sportsbook. The state’s legislation allows up to six operators, but currently, only these three have been approved. The future inclusion of additional operators remains uncertain, as BetMGM and PENN Entertainment (ESPN BET) did not meet Vermont’s regulatory standards.

Who Is Regulating Sports Betting in Vermont?

The Vermont Department of Liquor and Lottery will oversee the sports betting market, handling everything from application processing to licensing and regulation. This ensures a well-regulated and safe betting environment for participants.

How Can Bettors Sign Up and What Are the Betting Options?

Interested bettors can pre-register now, and from Thursday, they can create their betting accounts through the respective sportsbook’s app or website. Welcome bonuses and promotions are expected to be available for new users. In terms of betting options, Vermont offers a broad selection, including major sports like NFL, NBA, MLB, NHL, along with over 70 other sports, including esports. Betting is open for NCAA teams outside of Vermont, but in-state teams are restricted to postseason betting.

What Measures Are in Place for Responsible Gaming?

Vermont promotes responsible gaming, offering self-exclusion programs and betting limits to help manage gambling habits. The Department of Liquor and Lottery, reachable at 1-800-322-8800, provides assistance and information on these programs.

What Will the Tax Revenue From Sports Betting Look Like?

Vermont’s sports betting operations are expected to generate considerable tax revenue. Operators are required to contribute at least 20% of their adjusted gross revenue and a $550,000 initial operating fee to the state. DraftKings and Fanatics will pay 31% of their profits, while FanDuel will turn over 33%. The generated revenue will fund various state initiatives, including the Department of Health’s problem gambling fund and the digital services agency’s self-exclusion program. Vermont aims to collect $7 million in tax revenue in the first full year of sports betting.