Vermont sports betting handle reaches $12.6m for May
Results from last month fell significantly when compared to April.
Vermont’s liquor and lottery department has published its May sports betting results. During May, the state’s sports betting handle reached $12.6m.
The state’s handle fell by nearly $5m when compared to the total posted in April.
Close to 554,000 bets were placed during the month of May in Vermont, with the average wager amounting to $22.75. These results also reflect a dip in activity when compared to April.
Players from neighboring states had a hand last month in helping Vermont reach the $12m mark. Out-of-state players accounted for nearly a fifth of all wagers placed in May and bet a total of close to $2.7m.
They also placed higher bets on average than players who are Vermont residents. The average bet per out-of-state player was $30.67 during May.
Players in Vermont took home more than $11.3m in winnings last month. Vermont’s operators posted almost $1.2m in adjusted gross sports wagering revenue.
Basketball was once again the top ranked sport players wanted to bet on during the month of May, a continuing trend from the month of April. Basketball bets accounted for nearly $4.1m of the state’s total sports wagering handle.
Baseball and tennis grabbed the number two and three spots for the month, generating nearly $2.8m and $1.4m respectively.
Hockey and soccer contributed $1.2m and $38,000 to last month’s total handle respectively.
More than 35 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.
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