The state generated an $18.4 million handle for the month, a 6.3% increase from October, paired with an impressive 94% revenue jump. This growth came despite a dip in football betting handle, which fell slightly from $6.5 million to over $6.2 million. Basketball’s resurgence filled the void, with its handle skyrocketing by nearly $3 million to reach $5 million.
The increased hold percentage, which soared to 11.2% from October’s bettor-friendly 6.1%, indicates more favorable results for sportsbooks. Although football remained the most popular sport, basketball’s rising prominence reflects shifting trends in bettor preferences.
Other sports, including soccer and table tennis, also contributed to the Vermont sports betting diversity.
User engagement metrics also offered insight into the market’s expansion. While out-of-state active users fell slightly to over 10,800, in-state participants rose to 17,545 — an indicator of the industry’s deeper penetration within Vermont’s borders. The average bet amount climbed from $21 to $23, underscoring increasing confidence among bettors.
These promising numbers reflect Vermont’s unique position as a small but growing player in the sports betting ecosystem. However, this burgeoning market faces broader scrutiny, especially as federal lawmakers examine the industry’s practices and societal impact.
Senator Welch Seeks Accountability in Sports Betting
Vermont’s entry into sports betting coincides with a heated national debate over the ethics, legality, and public health implications of the industry — a conversation in which Senator Peter Welch has taken a leading role.
At a Senate Judiciary Committee hearing titled
“America’s High-Stakes Bet on Legalized Sports Gambling,”
Welch expressed concerns about the exploitative practices of major operators, specifically naming FanDuel and DraftKings.
“Obviously, in any market — not just this one — competition is important,”
Welch stated during the hearing, highlighting potential antitrust issues. Alongside Senator Mike Lee of Utah, Welch sent a bipartisan letter urging the Federal Trade Commission (FTC) and the Department of Justice to investigate FanDuel and DraftKings.
Their letter accused the companies of engaging in anticompetitive practices that stymie market access for smaller players, interfere with partnerships, and undermine consumer protection.
Welch’s concerns extend beyond market dynamics to public health. During the hearing, gambling policy expert Harry Levant supported Welch’s calls for stricter regulations, stating,
“From a public health perspective, Congress can deal with which forms of these bets should actually be permitted, and which are simply too dangerous.”
These concerns align with broader discussions surrounding the SAFE Bet Act, introduced to regulate advertising and enforce consumer protections. While proponents like Welch advocate for federal oversight, opponents, including the American Gaming Association, argue that states like Vermont already have robust regulatory frameworks.
Navigating Growth and Responsibility
Vermont’s November sports betting numbers showcase its market’s rapid growth, but they also underscore the complexities of an industry facing federal scrutiny.
As Welch and other lawmakers push for greater accountability and fairness, Vermont finds itself at the intersection of industry potential and regulatory necessity.
The state’s progress offers a glimpse into the economic benefits of sports betting, but as Welch’s advocacy suggests, ensuring ethical practices and safeguarding consumers will be critical to maintaining its long-term viability.
Vermont may be a small player in the national betting landscape, but its experiences could serve as a microcosm of the larger debate surrounding legalized gambling in America.
