Vermont sports betting handle reaches $21.2m in February

Vermont sports betting handle reaches $21.2m in February

It was the second month of legal sports betting in the state.

US.- Vermont’s online sports betting handle was $21.2m in February, the regulated market’s second month and first full month of operations. Players placed $41.1m worth of bets in the six weeks following the opening of the market on January 11. Basketball accounted for nearly 45 per cent of all wagers ($9.5m) and tennis 11 per cent. Football, the top sport in January, generated $1.7m in wagers.

The Vermont Department of Liquor and Lottery (DLL) reported that gross revenue dropped due to a 10-point drop in the hold. The hold in February was 12 per cent, which led to revenue of $2.5m compared $4.2m revenue in January.

Prior to launch, Vermont projected that sports betting would generate $7m a year for the state. In February, Fanatics Sportsbook, DraftKings and FanDuel paid $731,874 in tax from an adjusted gross sports wagering revenue of $2.3m. 

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