Vermont Sports Betting: Late to the 'Dance'
It took until almost six years after the U.S. Supreme Court opened the door for any U.S. state to authorize sports betting, but in January 2024 the first legal sports wager finally was placed in Vermont - the last New England state to come aboard.
While Gov. Phil Scott first advocated for sports betting in 2019, it took another two years for the state Senate to form a committee to consider the topic, and then another year after that for that committee to recommend the legalization of sports betting.
Scott signed a bill into law in June 2023, and three months later five national sportsbook operators applied for one of the three mobile sports betting licenses in Vermont.
The winning sportsbooks had to pay a one-time charge of $500,000 apiece for the privilege of obtaining a license - one month before those first wagers.
The three operators pay a relatively high 31.3% tax rate - not a very appealing number for such a small state with no major professional sports teams nor any prominent college football or basketball programs.
A new tax bill might discourage sports betting operators
A bill introduced in the state House of Representatives in late February 2026 would decrease the appeal even further. The bill proposes charging a 50-cent fee on every sports bet on top of the high rate on sportsbook tax revenue
A similar fee of 25 to 50 cents became law in Illinois in 2025, and operators quickly passed along the extra charge directly on to consumers.
Illinois likely is a large enough state to keep sportsbooks interested even with less favorable regulations, but passage of the same surcharge in Vermont conceivably could tempt one of those operators to simply walk away.
Modest betting volumes for Vermont sportsbooks
The three sportsbooks took in just under a combined $200 million in wagers 2024, with that number rising to $235 million in 2025. The revenue went up from $21.9 million in 2024 to $25.1 million the following year.
The highest betting handle months, through the end of 2025, have been $26.6 million in November 2025; $24.4 million in December 2024; $23.9 million in January 2025; and $22.9 million in March 2025.
The resulting tax revenue collected for Vermont went up from $6.3 million in 2024 to $7.3 million in 2025 - both figures being below what statehouse supporters had projected. According to the state's lottery commission, the average size of wagers climbed to $24 after being at $21 in 2024.
With just under 650,000 residents, Vermont is the second-smallest U.S. state by population (topping only Wyoming).
Neighboring New Hampshire's $880.6 million in betting handle in 2025 was fairly close to quadruple the amount bet in Vermont - yet its population is just over double Vermont's total.
That's even though Vermont has three legal sportsbooks, while New Hampshire residents only have one legal gambling option.
Casinos in Vermont?
A bill was introduced in the Vermont state Senate in late January 2026 that seeks to legalize the approval of two casinos in the state - with each winning bidder paying $5 million for the privilege.
But as the length of time it took Vermont lawmakers to move forward suggests, the state's culture in recent decades has included a reluctance to authorize an expansion of gambling.
Horse racing took place in Vermont for most of the 20th century, and greyhound racing even had its day as well, but the last of either type of racing concluded in 1995.
Overall, state lawmakers trying to bring casino gambling to the Green Mountain State undoubtedly realize they face an uphill battle - with iGaming legalization even more of a longshot.
Among the New England states, only Vermont and New Hampshire have neither commercial nor tribal full-scale casinos.
From the greater Burlington, VT area, it's anywhere from 75 to 100 miles to a casino in Quebec, Canada or south to New York state’s tribal Akwesasne Mohawk Casino and Resort or to the iconic Saratoga Springs Racetrack's casino hotel.
