Wagering within the state of Vermont was only made legal in February but after just the second full month of gambling in VT, the state has seen betting figures significantly decline.
Revenue and tax collections in Vermont both fell dramatically in March, with figures dropping by as much as 40% to $1.4Million and $441,030 respectively.
Sports betting was one field that didn’t see a huge drop following the first month of gambling in the Green Mountain state – but still there was a decline in interest with revenue dropping by a relatively low five percent to just $20.2m.
Vermont took its first official bet midway through January but despite the state allowing wagers for only half a month, they still reported an impressive $19.9m revenue in the first month of 2024.
Betting rather unsurprisingly took a significant jump in February as Vermont enjoyed its first full month of legal wagering within state – with numbers seeing a rise to $21.2m in a February that included major sporting events such as Super Bowl LVIII.
Vermont Sports Betting Revenue
Despite the hugely popular Super Bowl taking place in February at the beginning of this year, it is in fact basketball that has had the most bets placed so far in Vermont – with wagers accounting for $11.7m of total bets.
College basketball’s infamous tournament March Madness will have accounted for a large number of bets in the month of March, with this year’s renewal going to UConn Huskies men’s basketball.
The Vermont Department of Liquor and Lottery’s report also gathered that of the $20.2m revenue, $14.3m came from within state, while the remaining $5.9m came from bets placed by people travelling through VT.
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