Vermont’s Sports Betting Handle Decreases in May

Vermont’s sports betting handle totaled $12.6 million in May, marking a 27% decline from April. Nearly 554,000 bets were placed, with an average wager of $22.75.

Out-of-State Betting

Out-of-state players contributed significantly, accounting for $2.7 million of the total handle, which is nearly one-fifth of all wagers. These players placed bets averaging $30.67 each, higher than the average wager by Vermont residents.

Players in Vermont took home $11.3 million in winnings, while sports betting operators reported $1.2 million in adjusted gross sports wagering revenue.

Popular Sports for Betting

Basketball was the leading sport for wagers in May, generating nearly $4.1 million of the handle. Baseball followed with $2.8 million, tennis with $1.4 million, hockey with $1.2 million, and soccer with $38,000.

Online sports betting in Vermont launched on January 11, with DraftKings, FanDuel, and Fanatics Sportsbook as the initial platforms. This followed the signing of HB 127 into law by Governor Phil Scott in June 2023.