Vermont Launches Online Sports Betting with Top Operators Ahead of NFL Playoffs
Vermont has officially entered the online sports betting arena, launching its regulated market on January 11 with three leading operators.
This strategic timing precedes the NFL Playoffs, beginning January 13, and is anticipated to significantly boost the state’s revenue.
A Landmark for Vermont’s Sports Betting
The dawn of this new era in Vermont’s gaming landscape saw DraftKings, FanDuel, and Fanatics as the inaugural licensed operators. Wendy Knight, the commissioner of the Department of Liquor and Lottery, expressed satisfaction in bringing top industry players to offer mobile sports wagering in a secure and enjoyable regulatory environment.
The initiation of online sports betting in Vermont is projected to generate approximately $7 million in new revenue for the state in its first operational year. As the market matures, annual revenues are expected to escalate to between $15 million and $18 million, marking a significant economic impact for Vermont.
Legislative Framework and Consumer Safeguards
Matt Kalish, president of DraftKings North America, shared his enthusiasm: “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. 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 favorite sports on our industry-leading DraftKings Sportsbook app.”
This launch marks DraftKings’ 26th state presence in the US, while Fanatics Sportsbook enters its 10th state. FanDuel, simultaneously, extends its reach to 25 states with its sportsbook.
Our Comment on the Article
The introduction of regulated online sports betting in Vermont is a significant milestone, not only for the state but also for the evolving US sports betting landscape. With the entry of renowned operators like DraftKings, FanDuel, and Fanatics, Vermont has positioned itself as a key player in the thriving sports betting industry.
This move, strategically timed with the NFL Playoffs, reflects a well-calculated approach to maximizing initial engagement and revenue. Moreover, the state’s emphasis on responsible gambling and consumer protection highlights a balanced and ethical approach to this lucrative sector. As the market matures, it will be interesting to observe how Vermont’s model influences other states considering similar legislation.
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