DraftKings became among the first sports betting platforms to have access to Vermont’s online betting market immediately it was launched. From there onwards, DraftKings has continued to attract more punters to the scene as it increases in revenue.
In January 2024, Vermont opened its doors to online sports betting, becoming the 29th state in the country to do so. When the scene was launched, three sportsbooks took the center of it: DraftKings, FanDuel and Fanatics Sportsbook. DraftKings was officially launched on January 11, 2024, and has been a major contributor to the state’s GDP. In 2025, there has been rapid growth in new users signing up at DraftKings, helping the sportsbook gain market dominance according to sportsbettingdime.com.
Looking at the market performance
When the three sportsbooks launched in Vermont’s sports betting industry, they handled a total of $41.2 million in wagers within the first two months (January and February). This generated approximately $6.8 million in gross sports betting revenue. After adjustments for taxes by the government, the operators remained with $5.9 million while the government collected $1.9 million.
Vermont’s legalization of sports betting opened a doorway to massive revenue gains, peaking at a tremendous rate. For instance, within the first three weeks of opening the market, the gross sports betting revenue for the state was $4.2 million from $19.9 million in wagers.
Football (both NFL and college football) was responsible for the biggest handle of sports, raking in $7.5 million in wagers. This was over $58,000 more than the NBA and college basketball combined. Other sports responsible for sports betting revenues included:
- Tennis: $1.2 million
- Hockey: $1.1 million
- Other category (golf, auto racing, MMA, boxing and out-of-season baseball): $2.2 million
A good number of wagers came from bettors who are non-residents of Vermont, generating over $7.1 million worth of wages. It is also interesting to note that the out-of-state betters had a bigger average wager compared to the residents.
How DraftKings has been growing
With all the revenue generated in the market, Vermont did not disclose how much each operator collected in revenue. But when you look at DraftKings’ operations, the acquisition of customers in Vermont led to high profitability. According to the CEO and co-founder Jason Robins, the entry to North Carolina’s and Vermont’s markets influenced a 53% YoY rise in 2024’s Q1 revenues to $1.18 billion.
With the addition of Vermont to the equation, DraftKings sportsbook now has its presence in 26 states, becoming one of the biggest operators in the US market. Interestingly, the sportsbook, in 2023, overtook FanDuel in market share, taking 31% of the online sports betting and casino revenue in Q3. At the same time, DraftKings’ shares rose up by over 200%.
In 2025, the engagement of the operator’s social media handles saw a 200% YoY increase in the second quarter. But what is the real reason that is giving the sportsbook such an edge, making it climb to the heights that it is walking at right now?
Strong brand recognition and trust
Long before the Supreme Court struck down the federal ban on sports betting in 2018, the operator had already created a massive fanbase in the US because of daily fantasy sports (DFS). When it was founded in 2012, DraftKings quickly became a household name for fantasy sports enthusiasts all across the US. As other sportsbooks were getting into the market, DraftKings was expanding a service that people were already in love with.
If you know sports bettors, then you will know that brand loyalty is among their top qualities. Since many people were already using the brand, once the operator gets into a new state, it becomes an instant hit with the customers. It also makes sense why it was among the three operators given the go ahead to run the show in Vermont.
Mobile betting has opened up the market
In the current age, mobile sports betting has become the order of the day. Looking at online gambling statistics, DemandSage stated that the global online market is expected to grow from $117.5 billion in 2025 to $186.58 billion in 2029. This growth is primarily being pushed by mobile gambling, with statistics showing that nearly 80% of online gamblers use mobile phones as their primary device. Therefore, if an operator wants to succeed, they must be willing to work with smartphones.
DraftKings has aced this, considering that its mobile app is among the most popular betting apps all over the globe. The app gives players accessibility to daily fantasy sports, sports betting and casino games. The application is available for both iOS and Android users, and are found on the respective app stores.
Apart from the application, the operator has optimized its website for mobile use. If someone does not want to download the app (maybe because of mobile space), they can easily access the services from the website. Many reviews sites have given a high rating for the website showing that it is worth the shot.
DraftKings has been making tremendous growth in the US market, with Vermont serving as a significant revenue boost to the operator. Over the coming years, even as more states open up to sports betting, DraftKings is prepared for the increased competition. With many operators coming up every day, you can be sure that the competition will be tougher, but the operator is ready for the challenge.
