Get Ready, Vermont! A Guide to the New Sports Betting Scene Starting January 11
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Sports Betting in Vermont
Legal sports betting launches in Vermont on January 11th, a date which was chosen to coincide with the start of the NFL Playoffs, which kick off on January 13th.
When launch day arrives it means the state will be the last of the New England states who can take part in legal online sports betting in Vermont, after governor Phil Scott signed Vermont's sports betting bill - H.127 - on June 14, 2023.
In December, Scott admitted it is "good" to see Vermont sports betting "come to fruition" in what will be a "regulated" marketplace for US sports betting enthusiasts.
He said in a press release: "I first proposed Vermont legalize sports wagering several years ago, and it’s good to see it come to fruition.
"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."
While millions of dollars is likely to be staked on mobile sports betting and online in the coming months, the legalization will also generate millions for the state.
What Vermonters Can Expect: Features of the New Sports Betting Scene
Vermonters will be able to wager on an array of Vermont sports betting markets, including moneylines, point spreads, parlays - traditional and SGPs (same game parlays) - totals, props, and futures, when January 11th arrives.
On the DraftKings Vermont Sportsbook, FanDuel Vermont Sportsbook, and Fanatics Sportsbook, the major sports, such as football, basketball, baseball, hockey, golf, soccer, UFC, MMA, and tennis will all be available for wagering on mobile sports betting.
Live betting will also be available, and this could be particularly attractive to NFL fans, with the Playoffs starting just a couple of days after launch day.
What's more, live NFL streaming is available on the Fanatics Sportsbook, which is likely to be another positive for Vermont sports betting enthusiasts.
Key Players in Vermont's Sports Betting Market
On launch day, three authorized operators, FanDuel Vermont, DraftKings Vermont, and Fanatics Sportsbook will be legally allowed to operate in the state following a competitive bidding process.
Two other operators, BetMGM Vermont and Penn Sports Interactive/ ESPN BET, also bid for the chance to do business in Vermont on January 11th, but they lost out when the Department of Liquor and Lottery made its selections.
One of the vital parts of the criteria was how much revenue there would be for the state.
Vermont sports betting operators must give at least 20% to the state and pay a $550,000 operator fee.
DraftKings and Fanatics Sportsbook are said to be paying 31% revenue apiece, while FanDuel are turning over 33%, according to Wendy Knight, Vermont’s commissioner of the Department of Liquor and Lottery.
She said: "Frankly I am thrilled with the revenue share that we were able to secure with the operators. It's much higher than it would have been in a tax rate."
While FanDuel, DraftKings and Fanatics Sportsbook were successful in their bid to operate in the state, Vermont's sports betting regulations permits up to six operators.
Knight has told how BetMGM was scored down after proposing "variable revenue share based on the number of operators selected", while Penn/ESPN BET "was deemed materially non-compliant and not accepted".
How to Get Started: A Beginner's Guide to Sports Betting
First-time Vermont bettors can register for one, two, or all of the DraftKings, FanDuel, and Fanatics Sportsbooks to begin online sports betting in Vermont. For each Sportsbook simply:
- Click "sign up" on the website or app
- Make your first deposit
- Choose a sport and select a market to bet on
- Enter how much you wish to bet and submit your bet slip
However, first-time Vermont bettors should also bear in mind it is important to practice responsible betting.
Punters should only bet what they can afford to lose, and if they are wagering and the fun stops, then they should stop betting.
Promotions and Bonuses: Maximizing Your Bets
There are various Vermont sportsbook promotions that first-time Vermont bettors can take advantage of on launch day.
All three of the Vermont sports betting operators have welcome offers, and other special offers.
Claiming the DraftKings Vermont sportsbook promotion:
DraftKings Vermont Sportsbook has an enticing pre-registration offer for first-time Vermont bettors, which doesn't require sportsbook promo codes.
1. Click "sign up" on the DraftKings Vermont Sportsbook website or app
2. Receive $200 in bonus bets (they are issued as eight separate $25 bonus bets and expire within seven days of issuance) when the Sportsbook goes live in Vermont on January 11
But those who don't manage to get the pre-launch day Vermont sportsbook promotions could still make use of the DraftKings welcome offer:
- Click on this link to get to the sign-up page
- Make your first deposit
- Bet $5 or more on any sports
- Get $150 in bonus bets credited to your account instantly + a bonus bet back if your SGP (same game parlay)/SGPx (same game parlay extra) bet loses.
Claiming the FanDuel Vermont sportsbook promotion:
FanDuel also has an enticing Vermont sports betting offer for anyone who registers an account in the state - $300 in bonus bets.
Vermont sports betting enthusiasts will have to pre-register before January 11th to qualify for the offer.
- Click on this link to go to the FanDuel sign-up page
- Simply register for a FanDuel account from 12/12/23 (Pre-Live launch) to 1/11/24 (go-live launch) and they will receive $100 in bonus bets on launch day.
- To confirm you are located in Vermont, confirm your registration.
- To claim your $100 in bonus bets, simply log into your FD sports betting account after the launch day
- Finally, bet $5 on any FanDuel sports betting market after January 11th, and receive $200 in additional bonus bets.
For the Fanatics Sportsbook:
Vermont bettors will soon be able to take advantage of the Fanatics welcome offer, however, there are no details yet on what the offer will be upon launch so keep checking this page as we get closer to the day as we keep updating it with more information!
Navigating Vermont’s Legal Betting Landscape
With Vermont set to open its doors to legal sports betting on launch day, wannabe bettors should be aware of the sports betting regulations.
Legal Betting Age
By law, Vermonters need to be 21 or older to place a bet via the state’s sportsbooks, and they cannot use credit cards to do so on their accounts.
Creating Sportsbook Accounts
While launch day isn't until January 11th, Vermonters are permitted to sign up to the authorized sportsbooks beforehand, but they will not go live until Thursday.
Events Allowed to Bet on
According to state gaming regulations, Vermonters are prohibited from placing bets on events which involve a Vermont college, a high school or collegiate sports event that takes place in Vermont, or any wagers on amateur or professional sports events where the participants are primarily under 18 years of age. However, there are some exceptions…
If a Vermont college is involved in March Madness, or something similar, like tournaments or playoffs, wagers can be placed.
Knight has previously admitted one of the reasons for the introduction of legalized online sports betting in Vermont is because gambling has been occurring illegally in Vermont with no "consumer protections".
She is quoted by Vermont Public as saying: "The reason isn’t just that we, the state, can collect much needed revenue, but it’s that you’re taking an activity that is occurring illegally right now, which doesn’t have consumer protections and doesn’t have safeguards, and you’re creating a regulatory environment for it, right? That creates a safe and enjoyable framework."
Outlook For Sports Betting Growth in Vermont in 2024 and Beyond
If the Vermont sportsbooks prove popular with locals via mobile sports betting or online, then it looks likely that sports betting will continue to evolve in the state for years to come.
While three operators have already been given the green light to use their Sportsbooks in Vermont, we know the regulations permit up to six operators.
That appears to signify that if things go well, another three operators will be added at some point in the near future, generating yet more revenue for the state.
Embracing the New Era of Sports Entertainment
The move to legalize betting on Vermont sportsbooks has garnered some excitement in the state, but not just for those who are keen to place a wager.
One of the huge positives of online sports betting in Vermont is the revenue that will be generated for the state.
Of this, Vermont has already said it will invest $250,000 of its sports betting revenue into a problem gambling program in its Department of Mental Health in 2024, and Knight has also pledged an additional $250,000 for the existing lottery gambling programs.
While it is fantastic to know that people's bets will be investing in such causes, readers should remember it is incredibly important to participate in gambling responsibly.
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