Vermont Online Sports Betting to Launch Tomorrow

Mar 17, 2023; Columbus, Ohio, USA; Vermont Catamounts guard Dylan Penn (13) shows despair during the first round of the NCAA men’s basketball tournament at Nationwide Arena. Marquette won 78-61. Mandatory Credit: Adam Cairns-The Columbus DispatchBasketball Ncaa Men S Basketball TournamentVermont will launch online sports betting on Thursday, Jan. 11Three sports betting operators received licensesFanDuel, DraftKings, and Fanatics Betting and Gaming will operate in the state

It’s been a long road for the Green Mountain State, but the time has finally come.

Vermont online sports betting will launch on Thursday, Jan. 11, with three licensed operators offering sports betting.

Charles Martin, director of communications and legislative affairs for the Vermont Department of Liquor and Lottery, told Sports Betting Dime that sports betting will launch at 12 a.m. on Thursday, Jan. 11.

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Three Licensed Vermont Operators

DraftKings, FanDuel, and Fanatics Sportsbook were granted sports betting licenses and have  been registering users ahead of the state’s sports betting launch for the past several week. The Vermont Liquor and Lottery Commission granted the licenses after an extensive public bidding process.

“As a Boston-based company, 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,” said Matt Kalish, President, DraftKings North America, in a press release. “This is an exciting time of year with the NFL Playoffs about to kick off, and Vermonters will now have the opportunity to engage with their favorite sports on our industry-leading DraftKings Sportsbook app.”

DraftKings also announced it would commit $25,000 to the Arbor Day Foundation to support a large-scale reforestation planting project throughout Vermont.

FanDuel, BetMGM, DraftKings, Fanatics Betting and Gaming, and Penn Sports Interactive (ESPN Bet) submitted applications to operate in Vermont. BetMGM and ESPN BET fell short in their efforts to become licensed in the state, despite the department being allowed to issue up to six licenses.

The state will receive a percentage of each operator’s adjusted gross sports wagering revenue, plus an additional operator fee. Vermont is expected to receive upwards of $7 million in sports betting tax revenue in 2024.

The following types of bets have been approved by the Department of Liquor and Lottery:

Single-game bets, teaser bets, parlays, over-under, moneyline, pools, exchange wagering, in-game wagering, in-play bets, proposition bets, straight bets, point spreads, pleasers, round robin, cash out, 3-way, spread/handicap, totals, player-game-team props, yes/no, same-game parlays, multiple same-game parlays, virtual match ups win/place/each way.

The four major sports leagues are represented in the approved betting markets and also includes the MLS, WNBA, NASCAR, and the BIG 3. The entire sports betting catalogue can be viewed here.

Other additional markets include:

USA CricketWorld Chase TagDrone Racing LeagueWorld Pool-Billiards AssociationInternational Sailing League AssociationBadminton World Federation

Vermont allows for betting on college sports, but does place a prohibition on bets placed on in-state colleges and universities. Many states offer this prohibition, including neighboring Massachusetts and New York.

However, the the state will allow bets on Vermont colleges or universities if the school is participating in a tournament, such as the annual March Madness tournament, even if the tournament is taking place in the state.

Long Road to Legalization

Gov. Phil Scott (R) signed the Vermont sports betting bill into law more than six months ago, but the process has actually taken several years.

“I first proposed Vermont legalize sports wagering several years ago, and it’s good to see it come to fruition,” said Gov. Scott in a release. “Vermonters and visitors alike will soon be able to access a regulated sports wagering marketplace, which will come with important consumer protections and generate revenue for the state.”

The Vermont sports betting bill, H.127, was sent to Gov. Scott in early May after receiving approval from the House of Representatives. He signed it into law on June 14.