Online sportsbooks will go live in the Green Mountain State on Jan. 11, although not everyone interested in taking bets will join the party.
Vermont Gov. Phil Scott and Department of Liquor and Lottery commissioner Wendy Knight announced the launch date for mobile sports wagering on Tuesday. They also noted that regulators have selected DraftKings, FanDuel, and Fanatics Sportsbook to offer legal event wagering in the state.
The three bookmakers were selected through a competitive bidding process that attracted interest from five operators. That means two operators, BetMGM and ESPN BET, either withdrew their interest or came up short with their offers.
“I first proposed Vermont legalize sports wagering several years ago, and it’s good to see it come to fruition,” Scott said in a press 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.”
Mobile Sports Wagering will launch and be legal in Vermont on January 11. The Department of Liquor and Lottery, through a competitive bid process, selected DraftKings, FanDuel, and Fanatics Sportsbook to operate mobile platforms in Vermont.
— Governor Phil Scott (@GovPhilScott) December 12, 2023
Read more: https://t.co/Pf6wR01uSe
Scott signed a bill legalizing online sports betting in Vermont back in June, and it was that legislation that laid out the process regulators would follow, including the ability to select up to six operators in the state. A request for proposals followed that suggested wagering wouldn’t begin until January, which is in line with the Jan. 11 launch date announced on Tuesday.
It wasn’t specified in the release, but the three operators will have to turn over a share of online sports betting revenue earned in Vermont that is not lower than 20% of the total. DraftKings, Fanatics, and FanDuel will also have to pay a $550,000 initial licensing fee and a similar-sized renewal fee every five years.
Coming soon: Vermont sports bettinghttps://t.co/BUWjcFs0Jw@Covers
— Geoff Zochodne (@GeoffZochodne) December 11, 2023
Now that the contracts between the three operators and the state are signed, pre-registration is allowed in Vermont. The three bookmakers can start marketing themselves and signing up potential players.
“We are excited to offer sports enthusiasts the ability to engage in sports wagering in Vermont with three of the industry’s top companies,” said Commissioner Knight.
