Vermont's sports betting revenues surpass expectations, with help from out-of-state gamblers
Online sports betting has gotten off to a robust start in Vermont.
Liquor and Lottery Commissioner Wendy Knight says that during the first three weeks of operation after sports betting became legal on Jan. 11, almost $20 million was wagered. The average bet was roughly $23.
Knight says the state received approximately $1.1 million in revenue, which is considerably more than projections.
"There is far more revenue earned and far more gaming than I had expected," she says. "We're also seeing the majority of the sports wagering activity that's taking place in Vermont is from out-of-state players."
During that three-week period, people placed almost 850,000 individual bets in Vermont — and more than half them were from out of state.
"Out-of-state players have been playing in other states legally, and now they can engage in online sports wagering in Vermont, and they're doing so," Knight says. "That's also contributing to the strong numbers that we are seeing."
Knight says it's hard to predict how much the state will receive on an annual basis because this reporting period coincided with the NFL playoffs — games that attract enormous betting interest.
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