Vermont Sports Betting Sees Slight Decline in Handle for April
In April, Vermont’s sports betting market reported a handle of $17.1 million, reflecting a 15.2% decrease from the $20.2 million handled in March.
Despite this decline, revenue increased to $1.7 million, up from $1.4 million in the previous month. The Vermont Department of Liquor and Lottery reported that sports betting taxes amounted to $532,457, showing an increase from March’s $441,030.
Trends and Popular Sports for Betting
Basketball was the leading sport for wagers in April, generating $6.1 million in bets. Baseball followed with $2.97 million, while tennis attracted $1.6 million in wagers. Hockey and soccer also saw significant betting activity, with handles of $634,985 and $602,570, respectively. Other sports contributed a total of $5.1 million to the overall handle.
While April’s handle saw a decline compared to March, the increase in revenue and tax collection indicates a robust market performance. The popularity of basketball, baseball, and tennis highlights the diverse interests of Vermont’s bettors.
Launch and Legislative Background
Online sports betting in Vermont went live on January 11, 2024, with platforms launched by DraftKings, FanDuel, and Fanatics Sportsbook. This development followed the signing of HB 127 into law by Governor Phil Scott in June 2023, which paved the way for legalized sports betting in the state.
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