Legal sports betting officially launched in Vermont on January 11, 2024, with three online sportsbooks—FanDuel, DraftKings, and Fanatics Sportsbook—becoming available to eligible bettors. The lead-up to legalization involved multiple legislative steps, including the passing of bill H.127 in 2023 and Governor Phil Scott signing the sports betting bill into law in June 2023. Vermont regulators prepared extensively by issuing requests for proposals to operators, approving amended rules, and releasing a sports betting catalog covering over 70 sports. Early months saw a strong betting handle, with $21 million generated in February 2024, but handle and revenue declined in subsequent months, hitting new lows by mid-2024.
Despite initial success, Vermont’s sports betting industry faced challenges, including a ban on college player prop bets and attempts by legislators to repeal sports betting laws in early 2025. Bills such as H.133 were introduced to repeal both the state lottery and sports wagering laws, reflecting growing pushback against legalized sports betting. Meanwhile, tax revenue projections remained optimistic for late 2024, and operators like DraftKings abandoned plans to surcharge winning bets. Vermont’s sports betting landscape continues to evolve amid regulatory adjustments and political debate.
