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Last Thursday, just after midnight, three mobile sportsbooks—DraftKings, Fanatics Sportsbook, and FanDuel—went live to mark the formal opening of legal sports betting in Vermont. In a news statement, DraftKings North America President Matt Kalish stated, “As a Boston-based company, we are thrilled for the opportunity to further expand in the New England region and provide Vermont with access to safe and legal sports betting,” Matt Kalish, president, DraftKings North America, said in a press release. “This is an exciting time of year with the NFL Playoffs about to kick off, and Vermonters will now have the opportunity to engage with their favorite sports on our industry-leading DraftKings Sportsbook app.”
In 2024, Vermont became the last state in New England to offer legalized sports betting. In the upcoming months, North Carolina’s online sports betting industry will launch. In Vermont, there are just three betting applications available in the state’s mobile-only market, and retail sports betting is prohibited. Even though only those three operators are active in the state, they are all luring new clients with a variety of incentives and offers. A “Super Boost” incentive is being offered by FanDuel to its customers. On February 11, which is precisely one month after Vermont’s sports betting launch date, is the Super Bowl.
Check out the latest sports betting odds at Caesars.
Along with other events, Vermont gamblers will be allowed to lawfully wager on NBA and NHL regular season games. Wyoming is the only state in the United States with a smaller population than Vermont, hence the state isn’t anticipated to have a significant effect on sports betting nationally. Nevertheless, by entering the Vermont market, the three new betting sites are extending their national reach.
Currently, DraftKings operates in 26 states in the country, including New York, Maine, Massachusetts, Connecticut, and New Hampshire, which are all close by. DraftKings declared that it would “support a large-scale reforestation planning project throughout Vermont” by donating $25,000 to the Arbor Day Foundation. The undertaking is scheduled for the spring. There are a total of 21 states that now offer FanDuel’s online sports betting service, including Connecticut, Massachusetts, and New York.
While FanDuel and DraftKings hold a commanding lead in the U.S. market share and overall sports betting revenue, Fanatics Sportsbook has work to do. The Fanatics Sportsbook app is currently available in ten states, including Massachusetts and Connecticut.
With North Carolina slated to introduce mobile sportsbooks at the start of the NCAA basketball tournament in March, the sector is anticipated to continue expanding in 2024. At the moment, ballot initiatives or laws pertaining to the subject are available in California, Georgia, Missouri, and Oklahoma.
According to a press release, sports betting in Vermont is predicted to bring in up to $7 million during its first full year of operation and maybe as much as $15 million or $18 million in the future. The state has established guidelines for the bets and intends to provide support for people who struggle with gambling.
According to data from research firm Statista, online sports betting revenue in the United States is expected to reach $9.65 billion in 2024 and increase to more than $15 billion by 2028.
According to the American Gaming Association, sports betting is now available in 29 states as well as Washington, D.C.
Check out the latest sports betting odds at Caesars.
