In just the first three weeks since online sports betting became legal in Vermont on January 11th, nearly $20 million was wagered, with an average bet of approximately $23. This resulted in the state receiving about $1.1 million in revenue, which exceeded initial projections.
Out-of-state players are contributing to the majority of sports wagering activity in Vermont, with almost 850,000 individual bets being placed during the three-week period. More than half of these bets were from out-of-state players who have been attracted to Vermont’s new online sports betting platform by its legalization.
The timing of this reporting period coincided with the NFL playoffs, which are known for attracting enormous betting interest. Despite this, the strong numbers and increased revenue in the initial period indicate that Vermont’s foray into sports betting is off to a promising start. Liquor and Lottery Commissioner Wendy Knight notes that out-of-state players are contributing to the majority of sports wagering activity in Vermont and predicts that this trend will continue as more states legalize online sports betting.