In October, Vermont saw a sports betting handle of $17.3 million, which was a 4 percent increase from September and the state’s highest figure since March. Despite this, revenues dropped significantly from over $2 million in September to over $1 million in October, a decrease of more than 48 percent. This data comes from the Vermont Department of Liquor and Lottery, as the state launched sports betting in January with no year-over-year comparisons available.
The handles for popular sports like football, baseball, soccer, and tennis all saw decreases in October, with basketball surging into the top five sports for sports betting in the state. Basketball attracted over $2.1 million in bets, making it the second most popular sport in terms of handle. Additionally, all other sports saw an increase in handles from September to October.
Active users both in-state and out-of-state saw a slight decline in numbers, while the total number of bets placed increased from 751,282 to 825,204. Despite the decrease in revenues and active users, the overall betting activity in Vermont has been on the rise with an increased number of bets being placed. The state continues to monitor and analyze the sports betting market to see how it evolves in the coming months.
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Photo credit cdcgaming.com
