Vermont’s sports betting market reached a new milestone in December 2024, with a handle of $24.4 million, according to the state’s Department for Liquor and Lottery. The figure marks a 32% increase from November’s $18.4 million, reflecting robust growth since the market’s launch in January 2024.
Despite the higher handle, revenue fell to $1.6 million, down from November’s $2.05 million.
Over the course of its first year, Vermont’s regulated sports betting market recorded $198 million in wagers. Of this, $17 million was paid out as winnings, and the state generated $6.3 million in tax revenue, narrowly missing its $7 million projection.
Betting activity was primarily driven by Vermont residents, who accounted for 78% of the 8.7 million bets placed. Out-of-state players contributed the remaining 22%. The average bet stood at $22.83.
The most popular sports for bettors included basketball, football, baseball, tennis, and soccer, showcasing a diverse range of interests among players.
In July 2024, six months after the market’s launch, the Vermont Department of Mental Health (DMH) rolled out VTGamblingHelp.org, a website dedicated to promoting responsible gambling. The platform provides safer gambling materials and resources aimed at reducing gambling-related harm.
The December record highlights the rapid growth of Vermont’s sports betting industry, though it has fallen slightly short of initial tax revenue projections. The state’s commitment to responsible gambling initiatives underscores its efforts to balance market expansion with player protection.
