Vermont launches regulated online sports betting
11th January 2024 10:09 am GMT
Vermont’s regulated online sports betting market opened at midnight on January 11 with three licensed operators.
The launch comes ahead of the start of the NFL Playoffs on January 13 and is expected to generate $7 million in new revenue for the state in the first year of operation, rising to between $15 million and $18 million annually as the Vermont market matures.
The state’s online sports betting market will be served by DraftKings, FanDuel and Fanatics.
“We are pleased to have selected three of the industry’s top companies to offer Vermonters and visitors the opportunity to engage in mobile sports wagering in a fun and safe regulatory environment,” said Wendy Knight, commissioner of the Department of Liquor and Lottery.
Vermont’s sports betting legislation was signed into law by Governor Phil Scott in June 2023, establishing a regulatory framework under the authority of the Department of Liquor and Lottery.
The regulations include safeguards and consumer protections such as a ban on gambling using credit card funds, and a dedicated source of funding for problem gambling.
Matt Kalish, president of DraftKings North America, commented: “As a Boston-based company, we are thrilled for the opportunity to further expand in the New England region and provide Vermont with access to safe and legal sports betting.
“This is an exciting time of year with the NFL Playoffs about to kick off, and Vermonters will now have the opportunity to engage with their favorite sports on our industry-leading DraftKings Sportsbook app.”
The Vermont launch marks the 26th US state in which DraftKings is live and the 10th state for the Fanatics Sportsbook. FanDuel is now live in 25 states with its sportsbook.
