The Green Mountain State is on the cusp of a significant development in its gaming industry. On January 11, 2024, Vermont is set to embrace the digital age of gambling by launching its online sports betting platforms. This move comes after years of legislative efforts and studies on the potential benefits of sports betting for the state. Vermonters and sports enthusiasts alike are gearing up for a new era of gaming, with a host of promotions and bonuses to kick off the excitement.
Vermont’s Online Sports Betting Landscape
At midnight on January 11, Vermont will officially open the virtual doors to its online sports betting market. This long-awaited launch is the culmination of a four-year legislative journey, which included comprehensive studies on sports betting’s impact and the establishment of regulatory frameworks. The state’s Department of Liquor and Lottery has been at the forefront, ensuring a responsible and well-regulated rollout of the industry.
The Starting Lineup of Sportsbooks
Three major players are poised to enter the Vermont online sports betting scene: FanDuel, DraftKings, and Fanatics Sportsbook. These industry giants have been granted the green light to operate, with the potential for up to three more licenses to be awarded in the future. While BetMGM and ESPN Bet were also in the running, their participation was hindered by regulatory hurdles, leaving the initial lineup at three.
Welcoming Offers and Bonuses
To mark this historic launch, the sportsbooks are rolling out a series of enticing welcome offers and promotions. FanDuel Sportsbook is leading the charge with a welcome offer that turns a $5 initial wager into $200 in Bonus Bets. They’re also providing an Early Sign Up Special, adding an extra $100 in Bonus Bets for those who register ahead of the launch.
DraftKings Sportsbook isn’t far behind, with a pre-live offer of $200 in Bonus Bets for early sign-ups. Their multi-part welcome package includes deposit match bonuses and bonus bets, totaling up to $1,250 in value. BetMGM Sportsbook is expected to introduce a Bet $5, Get $158 in Bonus Bets promotion upon its Vermont debut.
Betting Catalog and Restrictions
The sports betting catalog in Vermont is extensive, covering professional sports leagues like the NFL, NBA, NHL, MLB, and esports, among over 70 sports. However, the state has drawn clear lines on what’s off-limits: betting on in-state NCAA teams is prohibited unless it’s a postseason tournament, and wagering on high school sports and events involving athletes under 18 is banned.
Responsible Gaming and Revenue Distribution
Vermont is committed to promoting responsible gaming, with self-exclusion programs readily available for those who wish to opt-out of betting. The state has also outlined a revenue-sharing plan, with sportsbook operators contributing at least 20% of their adjusted gross revenue to the state. This revenue will support various state funds, including the Department of Health’s problem gambling fund and the Department of Liquor and Lottery.
The Road Ahead
As Vermonters prepare to dive into the world of online sports betting, the excitement is palpable. With the NFL Playoffs on the horizon, the timing couldn’t be better for sports fans. The state is also looking forward to a significant boost in tax revenue, with officials aiming to bring in $7 million in the first full year.
How to Get Started
For those eager to get in on the action, signing up is straightforward. Users can download the respective sportsbook apps or visit their websites to create an account. Welcome bonuses and promotions are typically claimed by signing up through provided links or entering promo codes during registration. It’s important to note that terms and conditions apply to all offers, so bettors should read the fine print carefully.
Embracing the Future
Vermont’s entry into online sports betting is a landmark moment for the state. It represents a modern approach to gaming and entertainment, providing a regulated and safe environment for residents to engage in sports betting. As the industry takes off, Vermont is set to become a key player in the New England sports betting market, offering a dynamic and responsible platform for sports enthusiasts.
In conclusion, the launch of online sports betting in Vermont is a game-changer for the state’s gaming landscape. With top-tier sportsbooks ready to go live, and a suite of promotional offers on the table, the stage is set for a thrilling new chapter in Vermont’s sports and entertainment scene. As the clock ticks down to the launch, the anticipation builds for what promises to be a momentous occasion for bettors and the state alike.
