Vermont Sports Betting: Outlook for 2023

Vermont sports betting key developments and updates

May 9, 2023: The House votes in favor of the Senate-amended HB 127, forwarding it to the desk of Gov. Scott, who is expected to sign it into law.

May 4, 2023: The Vermont Senate approves HB 127 by a voice vote, sending it back to the House for concurrence. The final step will be for the House to forward the bill to Gov. Phil Scott, who can either sign it into law or veto it.

March 24, 2023: History is made as HB 127 becomes the first sports betting bill to clear the Vermont House. It now moves on to the Senate.

Feb. 17, 2023: House Bill 127 passes its first committee — the House Committee on Government Operations and Military Affairs — by a 9-3 vote.

Jan. 31, 2023: Rep. Matthew Birong introduces House Bill 127, which would permit two-to-six online sports betting sites to open their virtual doors in Vermont.

Oct. 15, 2021: A study on the sports betting industry — part of HB 313 — is completed, containing information on the potential revenue VT could garner, taxation, and other points of interest.

Jan. 7, 2020: Sens. Dick Spears and Michael Sirotkin introduce SB 213 in an effort to legalize mobile-only sports wagering, but the bill stalls after its first reading.

Feb. 28, 2019: Rep. Thomas Burditt introduces House Bill 484, which would legalize retail and online sports betting in Vermont. The bill ultimately never makes it off the ground.

May 2018: The U.S. Supreme Court repeals the Professional and Amateur Sports Protection Act (PASPA).

Vermont sports betting quick facts

Likely Vermont sports betting sites

Even if Gov. Scott signs HB 127 into law, some unknowns remain concerning the future of legal sports betting in Vermont. Namely, which online sportsbooks and accompanying sports betting apps will ultimately earn a license to operate in the state. 

Though it’s impossible to know for certain which betting sites will eventually get the nod, using recent state launches can help project the options Green Mountain State bettors may eventually have. Here’s what we foresee landing in Vermont:

DraftKings Vermont

Vermont sports enthusiasts may already be well-acquainted with DraftKings, as it has offered DFS contests in the state for some time. Now boasting one of the industry’s premier sportsbooks and betting apps, DraftKings’ newbie-friendly welcome bonus — which leads the best sportsbook promos lists in most states — second-to-none customer service, and expansive betting markets will make it a top choice should it enter the Green Mountain State. No DraftKings promo code will be necessary to get started.

• App store ratings: 4.8 (iOS), 4.6 (Android)
• Sign-up bonus: TBD
• Payout speed: 1-7 business days

Interested in discovering more about the sportsbook? Read our complete DraftKings review.

FanDuel Vermont

Like DraftKings, FanDuel is already heavily invested in the Vermont sports betting space due to its prevalence as a daily fantasy sports outlet. Should the iconic operator launch its sportsbook in VT, bettors can anticipate a first-class user experience, an in-game wagering section worthy of one of the top live betting sites, and an abundance of quality bonuses redeemable sans a FanDuel promo code.

• App store ratings: 4.8 (iOS), 4.7 (Android)
• Sign-up bonus: TBD
• Payout speed: 1-7 business days

Wondering what else FanDuel’s sports betting platform has to offer? Check out our full FanDuel review to find out.

Caesars Vermont

Caesars is known for its glitz and glamor, and if legal Vermont sports betting comes to pass, the Green Mountain State may get to enjoy its own little slice of Las Vegas. Offering what would be one of the most lucrative Vermont sports betting promos — a Caesars promo code is required — an unmatched loyalty rewards program, and a high-quality banking system, Caesars is considered by some to be the top sportsbook in the industry.

• App store ratings: 4.6 (iOS), 4.5 (Android)
• Sign-up bonus: TBD
• Payout speed: 1-5 business days

Dive into our Caesars review for more information on the iconic sportsbook.

BetMGM Vermont

Crowning itself the “King of Parlays,” BetMGM purports to offer a sports betting product that delivers the best parlay experience possible, from building to submitting. Not only will Vermonters get to put that claim to the test should BetMGM come to the Green Mountain State, but they’ll also gain access to the platform’s valuable sign-up bonus, reduced juice, boosted odds, loyalty rewards, and more.

• App store ratings: 4.8 (iOS), 4.6 (Android)
• Sign-up bonus: TBD
• Payout speed: 2-8 business days

For more expert insight on the sportsbook, read our thorough BetMGM review.

PointsBet Vermont

An Australia-based sportsbook operator, PointsBet continues to grow within the U.S. and may look at stepping into the Green Mountain State should VT sports betting become a reality. If that eventually comes to fruition, Vermonters can expect wide-ranging betting markets, flexible bonuses, and unique bet types — such as PointsBetting. No PointsBet promo code will be necessary to begin.

• App store ratings: 4.8 (iOS), 4.6 (Android)
• Sign-up bonus: TBD
• Payout speed: 1-5 business days

For more actionable intel, scour our detailed PointsBet review.

Vermont sports betting neighbors

New England’s sports betting landscape awaits only Vermont, as every other state in the region has legalized the practice. With healthy markets percolating in Massachusetts, New Hampshire, and New York, Green Mountain State bettors need only a short drive to begin wagering with regulated sportsbooks. 

Massachusetts 

• Massachusetts sports betting launch date: March 10, 2023 (online)
• Number of online sportsbooks: 7
• Remote registration: Yes
• Tax rate: 20%

New Hampshire

• New Hampshire sports betting launch date: Dec. 30, 2019
• Number of online sportsbooks: 1 (DraftKings)
• Remote registration: Yes
• Tax rate: 6.75%

New York

• New York sports betting launch date: Jan. 8, 2022
• Number of online sportsbooks: 9
• Remote registration: Yes
• Tax rate: 8.82%

How to start betting in Vermont

Vermont’s push to legalize sports wagering in 2023 is a sound revenue strategy. With so many sports betting dollars crossing the border to Massachusetts, New Hampshire, and New York, VT lawmakers recognize the value of keeping that money in-house, and it’s expedited the timeframe for a legal sports betting bill to reach Gov. Scott’s desk. Now, it appears to be inevitable that some of the country’s top sportsbooks and apps will arrive in the Green Mountain State. 

Below is a simple step-by-step guide on how to start betting once online sportsbooks officially launch in VT:

1. Select a licensed Vermont sportsbook

Choosing a betting site is a delicate process, and you should never blindly sign-up at an online sportsbook or download a sports betting app. Ensure you do your homework and scour each option for what best suits your needs. The top Vermont sportsbooks will offer quality promotions, best-in-class security, numerous banking methods, an intuitive user experience, and responsive customer service.

Once you’ve found a preferred betting site, download its corresponding mobile app to your iOS or Android device for the best experience.

2. Register online

The next step is to create a new sportsbook account, which you can do via desktop or mobile app. Operators will require you to provide basic personal information when registering, such as your full name, home address, email address, date of birth, and social security number. Your SSN helps to verify your identity and eliminate any potential bonus abuse.

You’ll then want to create a unique username and password. The strongest passwords mix upper and lowercase letters, numbers, and special characters. Try to make your password at least eight characters long.

3. Deposit and claim a bonus

After completing the sign-up process, it’s time to visit the sportsbook’s cashier. Here, you’ll sync your account with your preferred banking methods. Keep in mind that while most states with legal sports betting accept credit cards, HB 127 stipulates that they cannot be used to make deposits or bets in Vermont. So, you’re likely looking at debit cards, ACH bank wire transfers, PayPal, and other third-party wallets and banking services.

If your chosen sportsbook’s welcome bonus requires a promo code to unlock, it’s at this stage that you’ll need to punch it in. Ensure you have the code handy throughout registration.

4. Select and finalize your bet

With funds in your account, you can safely begin sifting through the sportsbook’s available betting markets. Vermont’s projected betting sites will offer odds on the four major sports leagues — the NHL, NBA, NFL, and MLB — and the most popular bet types — moneylines, point spreads, and point totals.

Once you’ve garnered some experience and are looking for something a little riskier, you’ll also find the best VT sportsbooks provide live in-game betting, same-game parlays, player props, and teasers.

If you’ve never made a wager at a sportsbook before, we highly recommend giving our guide on how to bet on sports a read.

5. Withdraw your winnings

After you string together a few wins, you might be eager to request a withdrawal. To do this, return to the online sportsbook’s cashier page and click the withdraw button. You’ll have a handful of options to transfer funds from your sportsbook wallet to your preferred bank account, including ACH wire transfers, PayPal, and physical checks. Just remember that even the best sportsbook for payouts typically takes up to five business days to deliver your money.

What’s missing from Vermont sports betting?

Politics

As in every state where sports betting is legal, you will not be permitted to wager on political events in Vermont. For example, you won’t be able to put money on who will win the 2024 U.S. presidential election.

Horse racing

While no physical horse tracks are licensed to offer racing in Vermont, betting on the ponies online is legal. So, you can download horse racing betting apps like FanDuel TV to place your wagers.

Entertainment award ceremonies

House Bill 127 does not contain language concerning wagering on entertainment award ceremonies like the Oscars or Emmys. You may be able to wager on such markets in the future.

Esports

There is no mention of esports betting in HB 127. So, those looking to wager on video game tournaments will have to wait and see what the future holds.

What about daily fantasy sports?

Daily fantasy sports are legal in Vermont — and have been since 2017 — via operators like DraftKings and FanDuel. You must be at least 18 years old to participate.

Vermont college sports betting

Because Vermont isn’t home to any professional sports franchises, Green Mountain State bettors will likely be eager to wager on collegiate programs. And while HB 127 dictates that betting on out-of-state college sports will be permitted, it also notes that wagering on in-state college teams will not. The only exception to the rule will be when VT-based teams are involved in big events, such as March Madness.

Vermont sports leagues and teams to bet on

Although Vermont doesn’t host any professional sports teams, Green Mountain State bettors still have plenty of franchises to root for in the region. The New England Patriots, Buffalo Sabres, New York Knicks, and New York Mets can all be considered hometown favorites, and while the pull to wager on those clubs once legal VT sports betting arrives will be potent, it’s vital to wager with your head rather than your heart. Doing the latter can swiftly drain your bankroll. 

If you aim to place a wager on your favorite team in the future, ensure you first learn how to manage your bankroll and keep tabs on injury reports, depth chart changes, weather, and matchup information. 

Aside from the four major pro sports leagues, Vermont online sportsbooks will likely offer betting markets for European soccer, international tennis tournaments, PGA tour events, MMA main events, and heavyweight boxing matches.

With Vermont's launch all but inevitable, make sure you rifle through the top sportsbooks for specific sports, leagues, and events:

Vermont sports betting taxes

Vermont’s sports betting bill includes a unique approach to taxes and fees for operators interested in entering the state. Rather than provide a flat tax rate for revenue, HB 127 would implement a competitive bidding process. The maximum tax rate for operators would be 20%, and those that earn a license would need to pay a $550,000 fee, payable over a minimum of three years.

Individual bettors would pay either a 6% tax — for Vermont residents — or a 7.25% tax — for those who live out of state — in addition to the 24% federal tax on gambling winnings. Remember, taxes are collected only on profits — you can write off your gambling losses to reduce your tax burden, so keep accurate and clean accounting records of your online sportsbook activity.

Responsible Vermont sports betting

If Gov. Scott signs HB 127 into law, the Vermont Department of Liquor and Lottery (DLL) would be responsible for overseeing all sports betting-related activity. As the regulatory body, the DLL would review online sportsbook applications, issue licenses, perform audits, maintain security, enforce laws, and impose fines. Additionally, it would lead responsible gambling initiatives, such as providing resources for gambling addiction, offering prevention and treatment programs, and promoting communication about the importance of safe gaming. 

To further mitigate the risks of problem gambling, the DLL would work closely with online operators to allow individuals to add themselves to self-exclusion lists, set budgets, and put time limits on their sportsbook sessions. 

Various resources for responsible gambling already exist on the Vermont government website:

• The Howard Center at 802-488-7777
• National hotline at 800-522-4700
• Vermont Counselor Network
• National Council on Problem Gambling

Sportsbooks to avoid in Vermont

While legal Vermont sports betting is closer than ever to becoming a reality, some bettors may find themselves impatient enough to seek out offshore sportsbooks. But these illegal sites are not regulated nor licensed, giving them leeway to engage in shady business practices, such as withholding winnings from players.

Below are just a few examples of online sportsbooks you should avoid at all costs:

Sports betting in other regions

Sports betting in legal U.S. states

Potential legal U.S. sports betting states

Sports betting in international regions

• Canada sports betting (excluding Ontario)
• Ontario sports betting
• U.K. sports betting

List of Vermont sports betting resources

Department of Liquor and Lottery - Expected state regulator for sports betting.

Vermont Legislature Online - Website for the state legislature.

Vermont Problem Gambling Resource Center - Top resource for responsible gambling in the state.