Sat. Feb 24th, 2024
Out-of-state gamblers boost Vermont’s sports betting revenues beyond forecasts

Vermont’s foray into online sports betting has been met with significant success, as reported by Liquor and Lottery Commissioner Wendy Knight. Nearly $20 million was wagered in the first three weeks after legalization on Jan. 11, with an average bet of approximately $23 resulting in about $1.1 million in revenue for the state, exceeding initial projections.

Knight notes that 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 which were from out-of-state players. The legalization of online sports wagering in Vermont has attracted out-of-state players who previously engaged in sports betting in other states.

The timing of this reporting period coincided with the NFL playoffs, which are known for attracting enormous betting interest, making it difficult to predict the annual revenue for the state. Nonetheless, the strong numbers and increased revenue in the initial period indicate that Vermont’s sports betting industry is off to a promising start.

By Editor

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