Vermont officially launched legal online sports betting on January 11, 2024, marking a significant shift for sports fans in the Green Mountain State. This guide provides a detailed overview of the current landscape, including legal operators, betting options, regulations, and what to expect moving forward.
The Legal Framework
Vermont’s sports betting law, H.127, allows for up to six online sports betting operators. Unlike some states, Vermont opted for a unique approach – a competitive bidding process. The Department of Liquor and Lottery (DLL) selected operators based on factors like responsible gambling measures and potential revenue generation for the state. The minimum age to bet is 21.
Licensed Operators (as of Feb 2024)
- DraftKings Sportsbook: One of the first to launch, offering a wide range of markets.
- FanDuel Sportsbook: Another major player, known for its user-friendly interface.
- Fanatics Sportsbook: A newer entrant, rapidly expanding its presence.
More operators are expected to be added in the future, following further DLL evaluations.
What Can You Bet On?
Vermont residents can legally bet on a variety of sports, including:
- Professional sports (NFL, NBA, MLB, NHL, MLS, etc.)
- College sports (with some restrictions – betting on Vermont college teams is permitted, but prop bets on individual players are prohibited.)
- International sports (Soccer World Cup, Olympics, etc.)
- Esports
Common bet types include:
- Moneyline: Betting on who will win the game.
- Point Spread: Betting on a team to win by a certain margin.
- Over/Under (Totals): Betting on whether the total score will be over or under a specified number.
- Parlays: Combining multiple bets into one for a higher payout.
- Prop Bets: Betting on specific events within a game (e.g., how many touchdowns a player will score).
Responsible Gambling
Vermont prioritizes responsible gambling. Licensed operators are required to offer tools and resources to help players manage their betting activity, including:
- Deposit limits
- Time limits
- Self-exclusion programs
Resources are available for those struggling with problem gambling: 1-800-GAMBLER.
Taxation
Vermont taxes sports betting revenue at a rate of 20%. A portion of the revenue is allocated to the state’s General Fund, while some is earmarked for problem gambling treatment and prevention programs.
Future Outlook
The Vermont sports betting market is still in its early stages. Expect to see continued growth as more operators enter the market and awareness increases. The DLL will continue to monitor the market and adjust regulations as needed to ensure a safe and responsible betting environment.
