The Vermont market opened at midnight local time today (11 January). Governor Phil Scott and department of liquor and lottery commissioner, Wendy Knight, confirmed the launch date last month.
Scott signed House Bill 127 into law in June of last year, legalising sports betting in the state. The bill permits up to six online sportsbooks to operate in Vermont. Licensed operators will pay tax at rate of 20% of adjusted gross sports betting revenue.
So far, three operators have been approved to offer mobile sports betting. The Vermont Department of Liquor and Lottery selected DraftKings, FanDuel and Fanatics Sportsbook through a competitive bid process.
“We are pleased to have selected three of the industry’s top companies to offer Vermonters and visitors the opportunity to engage in mobile sports wagering in a fun and safe regulatory environment,” Knight, said.
Vermont: 26th US market for DraftKings and 21st for FanDuel
The three licensed operators have already gone live in Vermont. Registrations for accounts with DraftKings, FanDuel and Fanatics opened ahead of last night’s launch.
DraftKings’ launch in Vermont represents its 26th market in the US, in addition to Ontario in Canada. This week, it also secured market access in North Carolina for a 27th US market.
“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,” DraftKings North America co-founder Matt Kalish said.
“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 favourite sports on our industry-leading DraftKings Sportsbook app.”
Vermont now becomes the 21st state where FanDuel offers sports betting, with the operator providing new customers with $200 in bonus bets from an initial $5 wager.
The company closed a highly successful 2023, with its Q3 revenue in the US reaching $852.0m, making it Flutter Entertainment’s best-performing portfolio company.
Fanatics extends Vermont launch
Also launching today is the Fanatics Sportsbook. Vermont marks the 10th state in which Fanatics has launched since Fanatics Betting and Gaming agreed to acquire PointsBet US.
“The Fanatics Sportsbook makes being a fan easy with fast signup, easy betting, transparent withdrawals and is disrupting the sports betting industry by offering the exciting new features to online customers in Vermont,” Fanatics said.
Original article: https://igamingbusiness.com/sports-betting/vermont-opens-legal-sports-betting-market/
