Vermont sports handle down to $10 million in July
Vermont sports betting operators reported yet another disappointing handle for the month of July, as the summer drought of NFL, college football, and NBA action continues to impact the Green Mountain State.
Vermont sports betting continues lackluster streak after operators accepted just under $9.5 million in bets in July
According to the Vermont Department of Liquor and Lottery (DLL), licensed operators accepted just under $9.5 million in bets last month. This is the first time the state-wide handle fell below $10 million and continues a disappointing streak.
In May, operators accepted $12.6 million in wagers, a 26% decline from April. Sportsbooks ended the month with an adjusted revenue of $1.2 million, also down 25% from April’s $1.6 million.
Following January’s launch, only February saw an uptick in wagers. Since then, the past five months have produced a lower handle than the previous one. July’s handle is 52% lower than January. Although wagers fell month-to-month, revenue reportedly increased a bit.
Because of the 13% hold, higher than June’s 9.2%, the operators collected $1.1 million in July. The tax bill came to about $366,000. Both in-state and out-of-state bettors contributed to the action.