Full Details Of Vermont’s Online Sports Betting Launch

Vermont launched online sports betting on Thursday.
DraftKings, Fanatics, and FanDuel are the three sports betting operators in the state.
Vermont expects to earn up to $7 million in their first full year of operation.

MONTPELIER, Vt. – Online sports betting went live in the Green Mountain State at midnight on Thursday. Vermont’s official online sports betting launch comes seven months after Governor Phil Scott signed a sports betting bill into law.

After four years of considering legal sports betting in the legislature and even conducting a study, Vermont finally launched sports betting. Vermont allows up to six online sports betting operators but only accepted three applicants for Thursday’s launch.

Full Vermont Sports Betting Launch Details

DraftKings, FanDuel, and Fanatics Sportsbook are the three Vermont sports betting sites operating in the state. These operators were announced on Dec. 13 as a part of Governor Scott’s sports betting launch date announcement.

Players must be 21 years or older to place a bet at any of these Vermont sportsbooks. Betting on the NFL, NBA, MLB, NHL, and 70 more sports are available, but betting on in-state teams is prohibited outside of the March Madness tournament.

Where Vermont Sports Betting Tax Revenue Goes

The Department of Liquor and Lottery (DLL) oversees all Vermont sports betting regulation, licensing, and applications. According to a DLL statement, Vermont expects to earn up to $7 million dollars in the first full year of sports betting operation.

Vermont House Bill 127 states that at least 20% of sportsbook operator’s gross annual revenue and a $550,000 initial operating fee will be paid to the state. Fanatics and DraftKings agreed to a 31% revenue share, while FanDuel pays a higher 33% of revenue back to Vermont.

With this operator revenue, Vermont pays $250,000 towards the Department of Health’s problem gambling fund and $100,000 towards the self-exclusion program. The Department of Liquor and Lottery will receive $500,000 and the rest of Vermont’s annual revenue will return to state funds.

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Zachary Kelley

Zach graduated from Florida State University with a degree in Writing, Editing, and Media. Zach is interested in the legalization aspect of sports betting and enjoys participating in DFS. He has a passion for sports writing and most enjoys writing about football and baseball both professional and collegiate.