Vermont Makes History with Launch of Online Sports Betting Market
In a groundbreaking move, Vermont has officially opened its doors to legalized online sports betting. As of January 11th at midnight local time, players in the state are now able to place bets on their favorite sports using three major operators – Fanatics, FanDuel, and DraftKings.
The road to this historic moment began when Vermont Governor Phil Scott signed House Bill 127 into law in June of 2023, effectively making sports wagering legal in the state. The legislation allows for a maximum of six online sportsbooks to operate, with operators required to pay a 20% tax on adjusted gross sports wagering income.
Out of the gate, three operators have been given the green light to provide mobile sports wagering – Fanatics Sportsbook, FanDuel, and DraftKings, all of which were selected through a rigorous bidding process by the Vermont Department of Liquor and Lottery.
Commissioner Wendy Knight expressed her excitement about the selection process, stating, “We are pleased to have selected three of the industry’s top companies to offer Vermonters and visitors the opportunity to engage in mobile sports wagering in a fun and safe regulatory environment.”
For DraftKings, the launch in Vermont marks the 26th market for the company, while FanDuel is now operating in its 21st U.S. state. Both operators have already seen a flurry of new registrations as fans flock to their platforms to place bets ahead of major sporting events like the NFL playoffs.
Matt Kalish, co-founder of DraftKings North America, expressed his enthusiasm for the expansion, saying, “We are thrilled for the opportunity to further expand in the New England region and provide Vermont with access to safe and legal sports betting.”
FanDuel is also making waves in the industry, recording significant income growth in the U.S. over the past year. As a result, the company has solidified its position as “the best-performing portfolio firm” of the Flutter Entertainment.
In addition to these major players, the Fanatics Sportsbook made its debut in Vermont, marking the 10th state where the operator has launched its platform. Fanatics highlighted its ease of use and innovative features, stating, “The Fanatics Sportsbook makes being a fan easy with fast signup, easy betting, transparent withdrawals, and is disrupting the sports betting industry by offering exciting new features to online customers in Vermont.”
As the online sports betting market continues to gain momentum, Vermont is poised to become a key player in the industry, providing a safe and enjoyable platform for sports enthusiasts to engage in the action.