This figure represents a 5% year-on-year decline from April 2024 and is 29% lower than March’s $22.9 million haul. Operators reported adjusted gross revenue of about $1.5 million, down nearly 9% compared with the same month last year.
Tax receipts for the state also dipped, underscoring challenges as Vermont heads into the busy summer sports season.
April Handle Decline and Trends
Vermont’s April performance showed weakness across most metrics. The $16.2 million handle was the smallest since last August, when interests waned following the summer sports lull.
On a monthly basis, the handle plunged 29.3% from March’s $22.9 million, when a 14% jump was driven by a surge in soccer betting during the Champions League knockout stages.
Adjusted gross revenue (AGR)—the amount VT sportsbooks retained after paying out winning bets—fell 8.8% year-on-year to roughly $1.5 million. Tax revenue collected by the Department of Liquor and Lottery slid about 9.4%, bringing in $482,000 for the state.
While basketball remained the most popular sport, bets on the NBA and college hoops totaled approximately $4.6 million, down from March’s $11.7 million peak during March Madness.
Baseball moved into second place with nearly $3 million wagered as the MLB season got underway, and tennis, a consistent draw, saw just under $1.7 million in April bets.
Operators reported that 79% of wagers were placed online by Vermont residents, with the remainder coming from visitors who travel into the state to wager.
The split underscores the ongoing importance of Vermont mobile betting platforms like DraftKings, FanDuel, and Fanatics Sportsbook, which continue to dominate market share.
Looking Ahead: State Outlook and Challenges
As Vermont moves into the summer months, analysts expect handle figures to remain under pressure. The absence of major events like the Super Bowl and March Madness typically leads to dips before the NFL preseason and early college football games reignite interest.
The state’s small population—just under 650,000—also limits how much the market can grow without a significant influx of out-of-state bettors.
Vermont’s regulatory framework, including a 31% tax on adjusted gross revenue, ensures a steady stream of funds for problem gambling programs but may dampen operator margins. With three licensed online sportsbooks in operation since January 2024, competition is fierce, and promotional offers have been key to attracting and retaining customers.
However, aggressive bonus spending can reduce hold percentages, which averaged 9% in April compared with 11% in February.
Looking forward, the Vermont Department of Liquor and Lottery is expected to release figures for May later in June, just as the NBA and NHL playoffs heat up. Industry watchers will closely monitor whether those high-profile events can reverse the recent downward trend.
Meanwhile, state officials are considering new marketing partnerships to boost visibility and potential incentives for visiting bettors. For now, the Vermont sports betting landscape faces a critical test: maintaining growth in a market that shows early signs of volatility.
