Vermont’s initial sports betting revenues beat expectations

Vermont’s initial sports betting revenues beat expectations

Article brief provided by Vermont Public
  • Bob Kinzel, Vermont Public
February 12, 2024 7:41 PM
  • Bob Kinzel, Vermont Public

Online sports betting has gotten off to a robust start in Vermont. Liquor and Lottery Commissioner Wendy Knight says that during the first three weeks of operation after sports betting became legal on Jan. 11, almost $20 million was wagered. The average bet was roughly $23.

Knight says the state received approximately $1.1 million in revenue, which is considerably more than projections.

“There is far more revenue earned and far more gaming than I had expected,” she says. “We’re also seeing the majority of the sports wagering activity that’s taking place in Vermont is from out-of-state players.”

During that three-week period, people placed almost 850,000 individual bets in Vermont — and more than half them were from out of state.