Vermont Hits New Low For Sports Betting In June
Vermont Hits New Low For Sports Betting In June
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Vermont Montpelier
Vermont’s Department of Liquor and Lottery (DLL) has reported the June’s figures for sports betting showing $10.05 million in total handle and a mere $922,968 in revenue, representing the lowest levels since the market’s launch. The drop can be attributed to a combination of factors, including the traditional seasonal slowdown during the summer months and the lack of a robust retail sportsbook presence in the state.
One of the standout features of Vermont’s sports betting reporting is the level of detail provided by the DLL. Unlike many other states, Vermont not only discloses the overall handle and revenue figures but also delves deeper into the nuances of its sports betting market. This includes tracking user numbers, the total number of bets placed, the average dollar value of those bets, and the breakdown between in-state and out-of-state wagering activity.
The DLL’s data also sheds light on the performance of different sports betting verticals within Vermont. In the early months of the year, basketball emerged as the dominant sport, with the NBA season driving a significant portion of the state’s handle. However, as the NBA season wrapped up and the MLB season gained momentum, baseball has now taken the top spot, accounting for $3.42 million in handle during June. Interestingly, tennis has maintained a consistent seven-figure handle throughout the year, highlighting the diverse interests of Vermont’s sports bettors.
Vermont’s position as a small, geographically isolated state with no retail sportsbooks, iGaming, or brick-and-mortar casinos, so the state’s sports betting ecosystem is entirely reliant on its three online operators.
While Vermont’s in-state betting activity has been relatively modest, with 18,214 bettors placing 385,562 wagers totaling $7.5 million in June, the state’s ability to attract out-of-state bettors has been a crucial factor in its sports betting performance. In June, 8,947 out-of-state bettors placed 76,366 wagers worth $2.5 million, highlighting the importance of cross-border traffic in sustaining the industry.
