Online sports betting is now legal in the state of Vermont and here is your handy guide to all the key points…
- The regulated online sports betting market opened at midnight on January 11th.
- It’s expected to generate $7 million in new revenue in year one, rising to over $15 million as the market matures.
- Online sports betting services will be provided in the first instance by FanDuel, DraftKings Inc. and Fanatics.
- The legislation was signed into law (House Bill 127) by Governor Phil Scott in June 2023.
- Vermont is now one of nearly 40 states with legal online sports betting.
- It’s the first market to open in North America in 2024, with North Carolina expected to launch in the next few months.
- Licensed operators will pay tax at rate of 20% of adjusted GGR.
- To place a bet, you must be at least 21 years old and inside state lines.
- It’s legal to bet on professional leagues (NBA, NHL, MLB, NFL etc.) and collegiate sports, but betting on college games is only permitted if they are part of a tournament.
- It remains illegal to bet on sports in-person, as the state lacks the physical infrastructure to manage sports betting shops.
- Online sports betting in the state is overseen by the Vermont Department of Liquor and Lottery.
- Vermont’s nickname is the Green Mountain State.