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Vermont's sports betting revenues surpass expectations, with help from out-of-state gamblers

A hand holds a smartphone screen with the FanDuel app open.
Zoe McDonald
Vermont Public
Sports betting became legal in Vermont on Jan. 11, 2024. Vermonters can access online sportsbooks from three companies, including FanDuel.

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.

More from Vermont Public: Sports betting could bring even bigger bucks this year than Vermont officials anticipated

"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."

More from Vermont Public: You can now bet on cornhole and competitive tag (among other sports) in Vermont. But there’s a catch

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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Bob Kinzel has been covering the Vermont Statehouse since 1981 — longer than any continuously serving member of the Legislature. With his wealth of institutional knowledge, he answers your questions on our series, "Ask Bob."