It's Official: Legal Sports Betting Launches in Vermont

Day 1 of a legal sports betting platform in Vermont and the best sportsbooks being in the state is in the books, and by all accounts things went rather smoothly for the three Vermont sports betting apps that went live at 12:01 a.m. ET on Thursday.

Vermont became the 38th state in the U.S. to welcome its own legal sports wagering platform at that time.

Thursday's Vermont legal sports wagering launch that includes the best sports betting apps is a culmination of years spent talking about such a platform, and six months of hard work from state regulators after a legal sports betting Bill was signed into law. Gov. Phil Scott inked the state's sports betting bill into law back in June.

Three Vermont sports betting sites, including FanDuel, DraftKings, and Fanatics, were all very active immediately in the Green Mountain State, with bets flowing in shortly after the wagering window opened after midnight.

What we are hearing

Vermont sports bettors, who must be 21 years or older under Vermont law, didn't wait until the morning to place wagers with their brand new sports betting platform. All three Vermont sports betting apps reported wagers shortly after midnight on Thursday when the state's platform officially became active.

DraftKings reported a $12.50 bonus bet on the Houston Texans to win the AFC as its first wager, FanDuel took in a $10 moneyline parlay wager on the Kansas City Chiefs and Texans as its first action, and Fanatics' initial Vermont wager was a $10 bet on Cleveland Cavaliers guard Max Strus going Over 2.5 three-pointers in a game against the Brooklyn Nets.

The state's Department of Liquor and Lottery Commissioner Wendy Knight said that the first 12 hours of operation for Vermont sportsbooks was a busy time. She noted that about 7,000 accounts were created over that period, and an average of $15k per hour was spent with the state's three providers.

Good start

Vermont regulators are hoping to generate $7 million in tax revenue during the first year of legal sports betting in the state. The state will get 20% of each operator's adjusted gross revenue every month.

Regulators seem to be off to a good start. Wagering activity was reportedly brisk, and there were no major glitches in the sign-up and ultimate wagering procedures of any of the participating betting sites in the state. As the Vermont industry grows and matures, big things are expected from the platform.

The Vermont legal sports betting industry boasts a terrific menu of legal sports wagering opportunities for citizens of the state. All of North America's major sports, including the NFL, MLB, NHL, NBA, and MLS, are included in the state's catalog, along with other more obscure "sports" such as World Chase Tag, Major League Fishing, and the Drone Racing League.

About that growth

The Vermont legal sports betting industry is expected to grow over the next few months. Lawmakers have made provisions for up to six sportsbooks to be operational. That leaves three licenses yet to be handed out.

It's expected ESPN BET and BetMGM will be included, two sports betting giants on the national scene. Each has already submitted an application to the Vermont Lottery, though both failed to fulfill the regulatory requirements to be named in the initial batch of licensees. It's anticipated both will continue a pursuit of a Vermont sports betting app license, and each will become a part of the Green Mountain State sports wagering scene soon.

Until then, three competitive sportsbooks will continue to battle for a relatively small Vermont market share. Each offers enticing sign-up bonuses and Vermont sportsbook promos for customers, and each shop brings a unique experience to Vermont bettors.