The Wait Is Over: Sports Betting Comes To Vermont In 2024
Whether legal or not, gambling on sports has been a major hobby for people from all walks of life, since before Babe Ruth’s era. As of today, sports betting is legal in some way, shape, or form in 35 of the 50 states. In January of 2024 there will be a 36th state joining in on the fun. The “Green Mountain State”, Vermont. Governor Phil Scott, signed the new bill into law back in June. On January 11th, Vermonters will be able to place online bets with Sportsbooks such as DraftKings and FanDuel. Scott said the new legislation will “come with important consumer protections and generate revenue for the state.”
For years, Vermonters have fled to neighboring states to place their bets. I know from experience. With it being in my home state, no more wasting gas on trips across state lines for me and many people I know. If this new endeavor for Vermont, goes like it has for the other 35 states, generating revenue won’t be a problem. Billions of dollars are poured into sportsbooks, online and in-person, around the country each year.
Just to show how much revenue Governor Scott can expect from this. Let’s take a look at the top 3 states in sports betting revenue.
#3. New York
“The Empire State” legalized sports betting all the way back in 2013. But didn’t open their first sportsbook until 2019, with online betting following in 2022. Even with the infancy of their involvement in the industry, they have rocketed up to #3. Raking in a grand total of $2.91 billion in total revenue. With a total amount wagered by users sitting at over $33 billion. Safe to say, New Yorkers are serious about their sports.
#2. Nevada
Surprisingly, the state most known for it’s casinos, isn’t #1 on this list. Even with sports betting being legal in the state since 1949, they still don’t claim the crown. You can probably trace it back to the fact that online sportsbooks such as FanDuel and DraftKings have only been around for 15 years or less. The creation of those companies made it more accessible. Had they been created earlier, there would probably be no touching Nevadans in revenue.
To date, the revenue sits at just over $2 billion, with total wagers at almost $36 billion.
#1. New Jersey
Our champion of sports betting is……New Jersey! The “Garden State” has a commanding lead with revenue coming in at over $3.1 billion and a whopping total wagers number of $42 billion. The state is home to the New York Giants/Jets home field, MetLife Stadium. Which is one place where you can legally place an in-person bet. I wish I could find the number for how much money is wagered every Sunday, just inside the stadium.
Not to mention, Atlantic City is like the Las Vegas of the East Coast. Giving them an advantage over every other state in the Eastern TIme Zone.
While Vermont probably won’t reach top 5 status anytime soon, if at all. The revenue will still be enough for Governor Scott to think of this legislation as a success. I, for one, will be a part of those wagers being placed when it goes into effect on January 11th.