- Vermont sportsbooks took in $16.2 million in wagers during July, up 16% from June’s $14 million.
- Adjusted gross revenue fell to $1.52 million as the hold rate slipped to 9.36% from 11.96%.
- Out-of-state bettors nearly doubled their wagers to $6 million, or 37% of all handle.
- The state’s revenue share dropped to $480,141, a second straight monthly decline.
MONTPELIER, Vt. – Vermont’s three online sportsbooks booked $1.52 million in adjusted gross sports wagering revenue for July, a 9.2% drop from June, even as bettors put down 16% more money, $16.2 million in all, the Department of Liquor and Lottery reported in its July summary.
Handle Up, Revenue Down
Vermont’s combined handle climbed to $16,234,252 in July from $13,991,232 in June, a 16% increase, according to the department’s July summary report. Adjusted gross revenue moved the opposite way, falling to $1,520,270 from $1,673,912, because the hold rate – the share of handle the books kept after paying out winners – dropped to 9.36% from 11.96% a month earlier.
A lower hold rate means Vermont bettors as a group kept more of what they wagered in July than they did in June, and it cost the state directly. Vermont’s revenue share rate was 31.6% of adjusted gross revenue in July, which came to $480,141, down 9.6% from June’s $531,140 and the second straight monthly decline after May’s $591,701. A bigger handle did not produce a bigger check for the state.
Visitors Are Driving The Swings
Out-of-state betting nearly doubled, rising to $6,028,441 from $3,316,246, and grew to 37.1% of total handle from 23.7% a month earlier. In-state handle slipped to $10,205,812 from $10,674,986. The average out-of-state wager hit $54.25 in July, more than double the $21.10 in-state bettors averaged and up from $30.05 the month before, while the number of active bettors barely changed, at 16,807 versus 16,913 in June.
The extra money came from bigger tickets rather than more of them. Out-of-state bettors placed 111,131 bets in July against 110,348 in June, while their average bet rose by more than $24, so a month of summer travel moved Vermont’s market more than any growth among its own residents did.
Baseball Overtakes Soccer For The Summer
Baseball handle rose to $4,555,353 from $2,997,571, a 52% jump that carried it past soccer’s $3,431,354 into first place in Vermont’s sport-by-sport breakdown for the first time this year. Soccer had led in June, after basketball topped the breakdown from February through May and football led in January. Basketball, tennis and e-basketball rounded out the top five sports by handle in July.
A Three-Operator Market
The Vermont online sportsbooks market has run with three licensed operators – FanDuel, DraftKings and Fanatics – since the state’s first wagering apps opened for business Jan. 11, 2024. Among the states with online sports betting tracked by USA gambling sites, it remains one of the smaller regulated markets.
The department’s monthly summaries do not split handle or revenue by operator, so the report shows how the market as a whole moved in July but not how the three books performed against each other.