Sportsbooks in Vermont only started taking bets in January, so most of this year is going to be setting precedents for performance in one of the newest legal sports betting states.
Not many expected Vermont to be a behemoth for sports betting given that it’s one of the smallest states by land area and population size. The state has no retail sportsbooks, iGaming, or brick-and-mortar casinos.
Three online sportsbooks in Vermont launched in January, and their sixth month of activity in the Green Mountain State may not be a massive needle-mover for any.
Vermont’s Department of Liquor and Lottery (DLL) reported a $10.05-million handle for June and only $922,968 in total revenue, good for a 9.2% hold. This is the lowest total handle and revenue mark since January’s launch, which shouldn’t be much of a surprise given that June is a notoriously slow month for betting anyway.
Vermont sports betting came out swinging with a 21.1% hold in January to set their current all-time high in revenue at $4.2 million, and February’s $21.2 million handle remains at the top of that category.
Inside the numbers
The DLL is unique in that it tracks user numbers, total number of bets, average dollar of bets, and out-of-state versus in-state wagering activity.
Vermont was the last state in New England to launch a legal sports betting market in the region, with all of its bordering states having active markets. Out-of-state bettors totaled 8,947 in June and wagered $2.5 million across 76,366 bets. 18,214 in-state bettors got in on the action during the month, placing 385,562 wagers for $7.5 million total.
In total, 27,161 users placed 461,928 wagers that averaged $21.76.
Sport-by-sport comparisons
Vermont does not disclose specific numbers for DraftKings, FanDuel, or Fanatics as most other states do, but it does report on handle by sport.
Baseball took the top spot in June after the NBA season wrapped up. Hoops had the highest handle from February through May and fell short of the No. 1 sport ranking in January by just $57,977 with football nabbing the mantle.
With the MLB season in full swing now, baseball has seen month-over-month increases in handle for four consecutive months.
Interestingly, tennis has maintained a seven-figure handle in every month of Vermont sports betting this year.
| Sport | June handle |
|---|---|
| Baseball | $3.42 million |
| Basketball | $1.48 million |
| Tennis | $1.29 million |
| Soccer | $942,658 |
| Hockey | $231,800 |
| All others | $2.67 million |
