Vermont’s online sports betting industry has experienced a surge in popularity, with nearly $20 million wagered in the first three weeks after legalization on January 11. This exceeded initial projections and generated about $1.1 million in revenue for the state.
According to Liquor and Lottery Commissioner Wendy Knight, out-of-state players are contributing to the majority of sports wagering activity in Vermont, with almost 850,000 individual bets being placed during the three-week period. More than half of these bets were from out-of-state players, attracted to Vermont’s legalization of online sports wagering.
Despite the timing of this reporting period coinciding with the NFL playoffs, which are known for attracting enormous betting interest, the strong numbers and increased revenue in the initial period indicate that Vermont’s foray into sports betting is off to a promising start.