Vermont selects DraftKings, FanDuel and Fanatics to launch online sports betting in January

Vermont Governor Phil Scott announced Tuesday that online sports wagering will launch on January 11, 2024. The Department of Liquor and Lottery has picked DraftKings, FanDuel, and Fanatics to operate sports wagering platforms in the state.

“I first proposed Vermont legalize sports wagering several years ago, and it’s good to see it come to fruition,” Scott said in a statement. Vermonters and visitors alike will soon be able to access a regulated sports wagering marketplace, which will come with important consumer protections and generate revenue for the State.”

A total of five sportsbooks were considered during the bidding process, and all three of those selected have chosen to have a six-year term with extensions if both parties agree to continue operating legal wagering in the years to come. Sports betting is expected to generate up to $7 million in revenue in its first year for the state.

Vermont Liquor and Lottery Commissioner Wendy Knight said the projections for the first year of revenue exceeded initial estimates. “We are excited to offer sports enthusiasts the ability to engage in sports wagering in Vermont with three of the industry’s top companies,” she commented.

The governor signed the state’s online sports betting bill into law earlier in June, joining nearly three dozen other states in legalizing this practice. Since then, Scott’s office and the Department of Liquor and Lottery have contracted with operators to conduct a sportsbook through a mobile platform.

Each year the Department of Liquor and Lottery, in consultation with the Department of Mental Health, will provide a report to the Legislature on the impact of sports betting on problem gambling in Vermont.

Operators will also be required to annually provide the state with a responsible gaming plan that includes information about the posting of materials related to problem gambling; resources to be made available to bettors with concerns about problem gambling; house-imposed player limits; and self-exclusion programs.

Those interested in placing bets must be over the age of 21 and have the ability to deposit funds using a debit card or personal bank account. Credit of any kind will not be accepted to ensure that users are gambling responsibly. 

Pre-registration is officially now open ahead of the January launch, allowing operators to do marketing and preregister players before the date.