Vermont sports betting handle slightly down for March, with revenue of $1.4m

In the evolving landscape of sports wagering, the latest report from DLL Sports Wagering reflects a slight fall in engagement in Vermont for March 2024.

The report reveals total handle of $20.2m. reflecting the overall amount of money wagered by bettors during this period, although this was a fall of 5% from February.

A substantial portion of this amount – $18.7m – was paid to bettors in winning payouts, leavingan adjusted gross sports wagering revenue of $1.4m, a more significant drop of 40%.

The report also broke down the numbers by sport, with basketball emerging as the clear frontrunner with overall handle of $11.7m – a figure that represents more than all the other sports combined.

This dominance in basketball betting was followed by tennis, hockey, soccer and baseball, with each sport contributing to the overall handle in varying degrees.

The report also provided insights into the distribution of bets between residents and out-of-state users. While residents accounted for a larger share of the handle at $14.3m, out-of-state users also made a significant contribution with handle of $5.9m.

Interestingly, out-of-state users tended to place fewer but higher-value bets, with an average dollar value of $35.50 per bet compared to $17.31 per bet for residents.

These figures come after Vermont recently legalised sports betting, with the practice officially going live across the state on 11 January 2024.

David Thompson

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