Sports betting is live in the Green Mountain State as of 12 a.m. ET Thursday, nearly seven months after Vermont Gov. Phil Scott signed the bill into law.
It took a four-year fight in the legislature, a study on the benefits of Vermont sports betting, and a lot of regulating decisions for the final New England state to add it.
Covers has everything you need to know about the Green Mountain State’s mobile betting launch:
Who can I bet with?
Three online sportsbooks are available at launch: FanDuel, DraftKings, Fanatics Sportsbook
Vermont’s law allows up to six online sports betting operators. Only five applied with just three being accepted. BetMGM’s revenue-sharing figures weren’t accepted by state regulators, and PENN Entertainment (ESPN BET) didn’t submit the proper paperwork for approval. It's unknown if Vermont will add more operators at a later date.
How do I sign up?
Pre-registration could still be underway, but once Thursday comes, you can download the operator's app and set up an account on a mobile device, or visit the sportsbook's website. Some sportsbooks offer bonuses and promotions when opening an account.
Can in-person or iGaming wagering take place?
No. The lottery is the Green Mountain State’s only other form of legalized gambling. Vermont does not have any casinos within the state and no brick-and-mortar sportsbooks were included in the law. There are also no online casinos associated with the available sports betting apps.
What betting options will be offered?
Vermont has a vast sports betting catalog that includes popular professional sports, like the NFL, NBA, NHL, MLB, and NHL, and more than 70 sports total, including esports. While there are no pro teams from those leagues in Vermont, other New England states and bordering New York generate interest.
NCAA teams not in the Green Mountain State are also offered for wagering. However, betting on in-state teams is prohibited unless it’s a postseason tournament like March Madness. High school sports and sports involving athletes under the age of 18 are also prohibited from wagering.
Who is regulating this?
Vermont selected the Department of Liquor and Lottery to handle the application process, licensing, and regulation of sports betting.
How old do I have to be to bet?
You must be 21 years of age or older to place wagers in Vermont.
What if I don’t want to bet?
Vermont does offer responsible gaming and self-exclusion programs that allow individuals to set their own betting limits or be prohibited from wagering for a period of time or for life. The Department of Liquor and Lottery can be contacted for more information at 1-800-322-8800.
What will Vermont’s tax revenue look like and where is it going?
The law states that at least 20% of sportsbook operators’ adjusted gross revenue, as well as a $550,000 initial operating fee, must go to the Green Mountain State. Vermont negotiated with the three sportsbooks through a competitive bidding process. DraftKings and Fanatics will pay out 31% while FanDuel will turn over 33% of profits to the state.
Vermont will send $250,000 annually to the Department of Health’s problem gambling fund while $100,000 will cover the digital services agency’s self-exclusion program. The Department of Liquor and Lottery gets $500,000 with the rest going to state funds. Vermont officials aim to bring in $7 million in tax revenue in the first full year of sports betting.
