Vermont sports betting handle dropped below $20 million in April, its lowest number since it launched in the state.
Vermont's sports betting handle dropped below $20 million in April, its lowest number since launching. Revenue, however, rose to $1.6 million.The first full month of baseball gave bettors more games to bet on, but it didn't entice Vermonters after a March of madness. reported the Green Mountain state took in $17 million in April, down 15% from March. Despite the decline in action, Vermont sportsbooks ended the month with a higher gross revenue.
Operators in March kept just 7.5% of the bets they accepted, but that jumped to 10.6% in April. That three-point increase gave sportsbooks a combined $1.6 million in adjusted revenue, up from the $1.3 million previously. The tax bill rose 20% to $532,000.Vermonters as a whole have not shied away from betting in April, despite the end of the NCAA tournament. Instead, they are just putting more money on fewer games.
In March, the state had 37,000 active bettors, with the average unit at $20.35. In April, the number of bettors increased to 40,000 with the average wager at $23.15. So, how did April’s handle fall compared to March? The overall number of tickets declined. Vermonters, like most states, see basketball as the best sport to wager on. But now that the baseball season is underway, it has leapfrogged into the second spot.
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