Vermont has officially entered the legal sports betting market with the launch of opportunities for players to wager on sports through DraftKings, FanDuel, and Fanatics. The market opened at midnight on January 11th, following the signing of House Bill 127 into law by Governor Phil Scott in June of the previous year.
The bill allows for up to six online sportsbooks to operate in Vermont, with licensed operators required to pay a 20% tax on adjusted gross sports betting revenue. So far, three operators have been approved to offer mobile sports betting in the state. DraftKings, FanDuel, and Fanatics Sportsbook were selected through a competitive bid process by the Vermont Department of Liquor and Lottery.
Wendy Knight, the commissioner of the department, expressed her pleasure in selecting three top companies to offer Vermonters and visitors the opportunity to engage in mobile sports wagering in a fun and safe regulatory environment.
Registration for accounts with DraftKings, FanDuel, and Fanatics opened ahead of the official launch, marking the 26th US market for DraftKings and the 21st for FanDuel. DraftKings’ North American representative, Matt Kalish, expressed excitement for the company to further expand in the New England region and provide Vermont with access to safe and legal sports betting.
FanDuel also extends its sports betting offerings to Vermont, providing new customers with $200 in Bonus Bets from an initial $5 wager. The operator closed a highly successful 2023, with US revenue reaching $852.0m in the third quarter, making it Flutter Entertainment’s best-performing portfolio company.
Fanatics Sportsbook also launched in Vermont, marking the 10th state in which Fanatics has launched since acquiring PointsBet US. Fanatics highlighted its user-friendly features and disruption of the sports betting industry with exciting new offerings for online customers.
Overall, Vermont’s entry into the legal sports betting market provides new opportunities for sports enthusiasts to participate in mobile sports wagering in a regulated environment.