Vermont’s sports betting market in December 2024 saw a significant jump with a handle of $24.4 million, a 32% increase from November. Despite the increase in handle, revenue fell to $1.6 million. In its first year, Vermont’s regulated sports betting market recorded $198 million in wagers, paying out $17 million in winnings and generating $6.3 million in tax revenue, slightly below projections. The market saw 8.7 million bets, with 78% from Vermont residents and 22% from out-of-state players. The average bet was $22.83, with popular sports being basketball, football, baseball, tennis, and soccer.
In July 2024, the Vermont Department of Mental Health launched VTGamblingHelp.org, a website promoting responsible gambling to reduce harm. The December record reflects rapid growth in Vermont’s sports betting industry, although tax revenue fell short of expectations. The state’s commitment to responsible gambling initiatives emphasizes balancing market expansion with player protection. Overall, Vermont’s sports betting market continues to show promise and growth potential.
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