Vermont legalized online sports betting in 2023 and launched it on January 11, 2024, with Fanatics Sportsbook, FanDuel, and DraftKings as initial operators. Users must be 21+ and physically in the state to place wagers on major American league sports and more. The move was aimed at capturing revenues that were previously going to illegal offshore books, with an estimated $7 million per year in revenue anticipated by 2025.
Governor Phil Scott signed the bill legalizing sports betting into law in Vermont in June 2023 after the repeal of PASPA. The Department of Liquor and Lottery oversees legal sports gambling, with a 20% tax rate applied to sportsbooks. The state government plans to combat problem gambling with a $250,000 fund.
Fanatics Sportsbook, FanDuel, and DraftKings were the first to launch mobile sports betting in the state, offering generous welcome offers. DraftKings also offers BetSync for tracking bets through the Action Network app.
While Vermont does not have professional sports teams, the legalization of sports betting is seen as a way to enhance revenue streams after a slump during the COVID-19 pandemic. Vermonters are known for enjoying outdoor activities and following New England and Canadian teams. With legal sportsbooks now operational in the state, residents have the opportunity to engage in legal, regulated sports betting from their mobile devices.
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