Vermont February sports betting handle reaches $21.5m

Vermont’s Department of Liquor and Lottery has released its sports wagering results for the month of February. Last month’s sports betting handle reached more than $21.5m.

Players placed more than 670,000 bets in Vermont last month, with the average wager amounting to $32.10.

However, players from neighboring states did their part in helping Vermont reach that $21.5m mark. Out-of-state players accounted for more than a third of all wagers that were placed last month and bet close to $8.4m.

Players outside of Vermont also placed higher bets on average than players who live in the state. The average bet per out-of-state player was $49.01 last month, which was more than $23 higher than the average wager placed by Vermont residents.

Good to know: The average bet for Vermont residents reached $26.27

Players in Vermont took home more than $19.1m in winnings last month. Vermont’s operators posted almost $2.2m in adjusted gross sports wagering revenue during February.

Last month, basketball was the game of choice for Vermont’s sports wagerers. Bets placed on basketball totaled $7.6m, nearly a third of the state’s total November handle.

Soccer and tennis grabbed the number two and three spots for the month, generating nearly $3.2m and $3.1m respectively.

Football bets generated another $1.4m to add to Vermont’s total handle, while eBasketball chipped in close to $0.5m. All other sports contributed the remaining $5.6m.

To date, 38 states have established legal and regulated sports betting markets since the US Supreme Court overturned the Professional and Amateur Sports Protection Act of 1992 (PASPA) in May 2018, also known as the Bradley Act.

Laura Mack

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