Score another notch in Fanatics’ bid to be one of the top mobile sports betting operators in the U.S. Vermont Governor Phill Scott revealed Fanatics as one of three platforms in the state, along with FanDuel and DraftKings, ranked one and two in the country.
The Department of Liquor and Lottery, which oversees sports betting, said the launch date is January 11, 2024 in the midst of the NFL playoffs. The state could draw as much as $7 million in tax revenue during the first year of action, according to Yogonet Gaming News.
“I first proposed Vermont legalize sports wagering several years ago, and it’s good to see it come to fruition,” Scott said in a statement. “Vermonters and visitors alike will soon be able to access a regulated sports wagering marketplace, which will come with important consumer protections and generate revenue for the state.”
Vermont had five sportsbooks in contention, but what separated the three was a decision to go with a six-year term with possible extensions.
Liquor and Lottery Commissioner Wendy Knight said the projections for the first year of revenue exceeded initial estimates. “We are excited to offer sports enthusiasts the ability to engage in sports wagering in Vermont with three of the industry’s top companies,” she told Sports Handle.
Scott said responsible gaming is a valuable part of the program. Each year the Department of Liquor and Lottery along with the Department of Mental Health, will issue a report on the impact of sports betting on problem gambling in Vermont.
Operators will also have to prepare a responsible gaming plan featuring related materials. The plan will offer resources related to problem gambling; house-imposed player limits; and self-exclusion programs.
The minimum age to bet is 21 and players must be able deposit funds into a debit card or personal account. No credit will be extended.
Pre-registration is now open, as is marketing to sign up players.
North Carolina is not as far along as Vermont, but in the end, will likely attract more interest from sportsbook operators. The North Carolina Lottery Commission, which will oversee the regulatory scheme, reports that 14 operators have asked for application materials.
The commission approved a slew of rules on December 13, but naming a debut date was not one of them, but a launch frame should happen during the first half of 2024, perhaps in time for March Madness. The agency expects names like DraftKings, FanDuel, Fanatics, BetMGM, ESPN Bet and Caesars Sportsbook among the players.
At least three sportsbooks have partnerships lined up: bet365 with the Charlotte Hornets, FanDuel with the PGA Tour, and ESPN Bet with Quail Hollow Club.
Despite a lack of date, applications must be submitted by December 27.
Among the approved rules: people under 21 can’t bet, and promotions ban any reference to “risk free” bets if they require bettors to incur any kind of financial risk.
