Vermont sports betting launched on Jan. 11, 2024, marking the 38th U.S. state with legal sports betting. Gov. Phil Scott signed the Vermont sports betting bill, H.127, into law on June 14, 2023, allowing legal online and mobile sportsbooks to enter the Green Mountain State.
The bill permitted Vermont's Department of Liquor and Lottery to issue two to six online sportsbook licenses, with operators subject to a 20% revenue tax. After a competitive bid lottery, DraftKings, FanDuel, and Fanatics Sportsbook were selected to operate online and mobile sports wagering platforms in Vermont on day one.
Vermont sports betting revenue
Legal sports betting in Vermont launched on Jan. 11, 2024, featuring online sportsbook betting. However, college player prop betting is banned in the state.
Here's an outline of Vermont's sports betting figures:
Vermont annual data
| Year 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| 2025 | $212,299,000 | $22,220,000 | 10.5% |
| 2024 | $198,754,297 | $21,923,405 | 11.0% |
Vermont 2025 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan | $23,870,533 | $3,242,704 | 13.6% |
| Feb | $21,534,379 | $2,402,541 | 11.2% |
| Mar | $22,945,016 | $1,490,783 | 6.5% |
| Apr | $16,238,019 | $1,655,205 | 10.2% |
| May | $16,261,329 | $1,882,399 | 11.6% |
| June | $14,004,898 | $1,530,710 | 10.9% |
| July | $14,828,068 | $1,396,731 | 9.4% |
| Aug | $13,457,502 | $1,716,234 | 12.8% |
| Sept | $20,030,000 | $1,510,000 | 7.5% |
| Oct | $26,609,000 | $2,177,000 | 8.1% |
| Nov | $22,521,000 | $3,216,000 | 14.2% |
Vermont 2024 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan | $19,913,914 | $4,211,197 | 21.1% |
| Feb | $21,249,828 | $2,547,167 | 12.0% |
| Mar | $20,196,055 | $1,534,333 | 7.6% |
| Apr | $17,083,302 | $1,807,282 | 10.6% |
| May | $12,607,503 | $1,275,226 | 10.1% |
| June | $10,049,904 | $1,030,762 | 10.3% |
| July | $9,466,746 | $1,231,459 | 13% |
| Aug | $11,312,536 | $951,673 | 8.4% |
| Sept | $16,664,999 | $2,248,257 | 13.5% |
| Oct | $17,332,715 | $1,164,278 | 6.7% |
| Nov | $18,423,720 | $2,155,615 | 11.7% |
| Dec | $24,453,075 | $1,766,156 | 7.2% |
Vermont sports betting at a glance
- Launch date: January 2024
- Regulator: Vermont Department of Liquor and Lottery (VDLL)
- Latest reported month: September 2025
- Lifetime handle: $388,534,765
- Lifetime revenue: $40,927,182
- Last updated: December 24, 2025
Note: Vermont reports sports betting revenue on a monthly basis. Figures below reflect combined online and retail wagering unless otherwise specified by the regulator.
About sports betting revenue in Vermont
Vermont legalized sports betting in 2023, with online and mobile wagering officially launching in January 2024 under the oversight of the Vermont Lottery.
The state operates a mobile-only sports betting model, with a limited number of approved online sportsbook operators offering wagering statewide. Vermont does not permit retail sportsbooks, reflecting a regulatory approach focused on digital access rather than physical betting locations.
The Vermont Lottery publishes monthly sports wagering reports detailing statewide handle, gross gaming revenue, and tax proceeds. Given the state’s small population and streamlined market structure, these reports provide a clear snapshot of adoption and participation rather than large-scale market volume.
Because Vermont’s sports betting market is compact, mobile-exclusive, and population-constrained, its figures are best evaluated as indicators of penetration and efficiency rather than as direct comparisons to high-volume or casino-driven jurisdictions.
How to read revenue numbers
- Handle represents the total amount wagered by bettors during the month.
- Revenue reflects sportsbook winnings after payouts, before expenses.
- Hold is calculated as revenue divided by handle, expressed as a percentage.
Monthly revenue can fluctuate significantly due to seasonality, betting mix, and the outcomes of major sporting events.
Vermont sports teams you can bet on
Though Vermont isn’t home to any professional sports teams, Green Mountain State bettors still have allegiances with their favorite teams from surrounding states. We advise eliminating regional bias and conducting thorough research before wagering on any sports market.
Review our how to bet guides for actionable intel aimed at new and intermediate bettors.
Covers and credibility
We have had our finger on the pulse of the sports betting industry for more than 25 years. The sports betting revenue figures and statistics found here have been personally reviewed, verified, and fact-checked to ensure their validity.
News outlets turn to Covers for our earned reputation as a trusted and authoritative source of sports betting information. These are among the notable publications and media outlets that have referenced Covers.com and our industry experts.
More industry resources
As states continue to authorize legal sports betting — now 38 states plus DC, consult these informational websites for additional information on the sports betting industry:
- American Gaming Association (AGA): Organization dedicated to advancing the gambling industry's interests by promoting, educating, and advocating for responsible gambling.
- Professional and Amateur Sports Protection Act (PASPA): Supreme Court of the United States ruling.
- National Council on Problem Gambling: Those seeking help for a gambling problem can call 1-800-GAMBLER toll-free, 24/7.
Related sports betting revenue coverage
U.S. Sports Betting Revenue Tracker
Monthly Sports Betting Revenue by State: Arizona | Arkansas | Colorado | Connecticut | DC | Illinois | Indiana | Iowa | Kansas | Kentucky | Louisiana | Maine | Maryland | Massachusetts | Michigan | Missouri | Nevada | New Hampshire | New Jersey | New York | North Carolina | Ohio | Oregon | Pennsylvania | Rhode Island | Tennessee | Vermont | Virginia | West Virginia | Wyoming
Sports betting revenue tracker FAQ
The sports that generate the most sports betting revenue can vary depending on factors such as the sport's popularity, the betting market's size, and the timing and frequency of significant events. Football stands as the most popular sport for betting in the United States, with the NFL generating the highest revenue. The Super Bowl alone is one of the world's most-watched and bet-on sporting events. Basketball is also a popular sport for betting, particularly in the United States where the NBA lays claim to the top basketball league in the world.
Sports betting revenue varies greatly depending on the region, market, and size of the industry. However, in many jurisdictions, sports betting can generate significant revenue and contribute to the overall economy. Compared to other industries, sports betting revenue may not be as significant. For example, in 2020, the global video game industry was estimated to generate over $159 billion in revenue. Meanwhile, the global film industry was estimated to generate over $100 billion in revenue in 2020.
The popularity of select sports events cannot be overlooked, with the Super Bowl and World Cup among the largest betting events in the globe. Betting odds and lines also greatly impact the amount of revenue generated by sports betting. Other factors include technological advancements, including the live streaming of events.
The future of sports betting revenue hinges on additional markets legalizing sports betting, via mobile betting, land-based, or a combination of both. An uptick in legal U.S. markets will trigger increased revenues, while new bet trends including same game parlays and in-game wagering, unlocks more opportunities for customers.
Online sports betting has significantly impacted sports betting revenue, notably in states where it is legal and regulated. The rise of online sports betting has facilitated the customer experience, allowing people to place bets remotely or in-person from the event itself, leading to increased revenue for sportsbooks. Betting site operators can also reach a much larger audience and customer-base. Overall customer convenience plays a large part in driving up sports betting revenue.
Gross revenue represents the total amount of money a sportsbook takes in from all customer bets, and it includes the total value of all bets placed, regardless of whether the bets won or lost. In other words, gross revenue is the total amount of money a sportsbook earns from its customers. Net revenue, conversely, is the amount of money a sportsbook earns after deducting all its operating expenses. This includes things like salaries, rent, marketing expenses, and other costs associated with running the sportsbook. Net revenue is the profit a sportsbook makes from its operations.
Major sports events including the Super Bowl and World Cup have a significant impact on sports betting revenue. These events garner a lot of attention from fans, which leads to increased betting activity and higher revenue for sportsbooks. The Super Bowl alone is the largest single-day betting event on the sporting calendar, which generates millions of dollars in revenue for sportsbooks.
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