Vermont Sports Betting Catalog Revealed Ahead of January Launch
As Vermont gears up for its entry into the world of sports betting on January 11, 2024, a comprehensive catalog of approved sports for wagering has been released.
State regulator the Vermont Department of Liquor and Lottery published the final catalog for the state sports betting market late last week. It covers all the major U.S. sports leagues, including the NFL, MLB, NHL, NBA, and MLS, as well as big international markets like tennis betting, F1 racing, and combat sports.
Alongside these popular choices, the state has also approved betting on niche sports like World Chase Tag, cornhole, pickleball, drone racing, teqball, and the European ice hockey style game, Bandy.
However, Vermont has set clear boundaries in its betting options. Notably, betting on collegiate teams from the state is prohibited, except in scenarios where these teams are part of larger tournaments such as the NCAA’s March Madness basketball cup.
LIV Golf Not on the List, eSports Enthusiastically In
As per the law signed by Governor Phil Scott in May, Vermont horse race betting was not included in the catalog.
Interestingly, the only professional sports team in Vermont will not be available for wagers. The Vermont Lake Monsters were in Minor League Baseball from 1994 to 2020, but now play in a Collegiate Division, so they are excluded from being wagered on in the state.
In terms of notable inclusions, Vermont will have one of the most comprehensive esports betting catalogs of any legal U.S. betting market. Options include all sanctioned esports events for Call of Duty, World of Warcraft, Hearthstone, StarCraft, League of Legends, Overwatch, and quite a few more.
Preregistration for sportsbooks in the state is already available, so players can have accounts ready for betting the minute the market launches on January 11.
Retail sportsbooks in Vermont have not been included in the market framework so far, and aren’t expected to be anytime soon.
Economic and Social Impacts
The launch of sports betting in Vermont is expected to have significant economic benefits for the state. Although the state doesn’t have any major sports teams, the nearby New England states have some of the most popular in the country.
Major operators like FanDuel, Fanatics, and DraftKings are set to launch their platforms, contributing to a projected annual tax revenue of $7 million.
This revenue is poised to support various state-funded initiatives, including $250,000 a year to a fund promoting responsible gambling.
Initially, five operators applied for five expected licenses. But this was dropped to three licenses by regulators during the formation of the market rules.
That led to rejections for BetMGM and Penn Entertainment’s newly launched ESPN Bet.
Successful applicants DraftKings and Fanatics will pay 31% of the revenues to the state, while FanDuel will pay 33%. Licenses will also cost an initial fee of $550,000.
Interestingly, this three operator lineup of DraftKings, FanDuel, and Fanatics is exactly the same as Connecticut sports betting fans will have access to going into 2024.