Today is January 11, 2024 and it is a historical date in Vermont. Or at least, it is for Vermonters who like to bet on sports. This is because Sports Betting in Vermont starts today with sportsbooks taking bets as early 12:01 AM.
Sports betting became legal in Vermont on June 14, 2023 after Governor Phil Scott put his signature on Bill 127. Of course, there never was any doubt that he would sign the Bill. This is because Gov. Scott has always been in favor of legalizing sports betting in Vermont. However, sports betting enthusiasts have not been able to bet on sports until now. This is due to the Vermont Department of Liquor and Lottery Commission having to finalize rules and license applications.
The January 11 launch date was made official last December after an announcement from Gov. Scott and the Dept. of liquor and Lottery.
To legally bet on sports in Vermont, a person must be at least 21 years of age. In order to operate in Vermont, sportsbook need a license and a 20% tax on their gross sports betting revenue. Furthermore, the Green Mountain State is hoping that sports betting will bring $7 million in revenue for its first full year.
Sports Betting in Vermont Starts Today with 3 Sportsbooks
So far, only 3 Sportsbooks have a license to operate a sports betting operation in the state. They DraftKings, FanDuel and Fanatics who were able to obtain a sports betting license via a competitive bid process. In order to be eligible to bid, sportsbooks had to have a secure sports betting software and be financially solvent
Draftkings in Vermont – For DraftKings, launching a sportsbook in a new U.S. market is almost a routine for them. This is because the Vermont sports gambling market makes it their 26th U.S. betting market. Furthermore, they are also in the Ontario market and were recently able to enter the betting Market in North Carolina.
FanDuel in Vermont – For their part, FanDuel made a promotion to celebrate launching in Vermont. This was done by giving out a promo code to Vermonters giving them $200 in bonus bets.
Fanatics Betting and Gaming in Vermont – For Fanatic, being able to launch in Vermont makes it their 10th sports wagering market. While they are behind DraftKings and FanDuel, they have high hope for the Vermont betting market.