Vermont officially launched sports betting on January 11, 2024, making online sports betting legal in the state. Residents must be at least 21 years old and physically present in Vermont to place wagers online through platforms like Fanatics Sportsbook, FanDuel, and DraftKings. Users can bet on a variety of sports, including major American league sports and international leagues, but betting on local Vermont college teams is prohibited.
The legalization of sports betting in Vermont came in response to a decline in government revenues during the COVID-19 pandemic and the desire to recoup funds lost to illegal offshore betting sites. Governor Phil Scott, a proponent of sports betting since 2019, signed the bill legalizing sports betting into law in 2023. The state anticipates generating at least $7 million in annual revenue by 2025 by taxing sportsbooks at a rate of 20%.
Vermont’s sports betting market is regulated by the Department of Liquor and Lottery, which oversees legal sports gambling. Popular sportsbooks such as Fanatics Sportsbook, DraftKings, and FanDuel are now available for Vermont residents to place bets on various sports.
In addition to mobile sports betting, Vermont residents can also participate in PrizePicks, an app where users predict if players will exceed or fall short of specific stats during games. PrizePicks offers a bonus to Action Network visitors who sign up.
Overall, the legalization of sports betting in Vermont provides residents with additional entertainment options while contributing to the state’s revenue through legalized and regulated gambling activities.
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