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With the 2024 NFL playoffs looming, Vermonters have a new way to enjoy the tournament games. Vermont joined the majority of states with a system for regulated online sports betting on Thursday morning.
DraftKings, Fanatics and FanDuel began taking bets early Thursday morning from eligible people in Vermont on their apps. In doing so, Vermont regulators met the projected timeline and allowed the state to benefit from the forthcoming NFL postseason.
Three sports betting apps launch on Thursday
Vermont law allowed the state’s Department of Liquor and Lottery (DLL) to issue between two and six licenses in a competitive bidding process. The DLL settled on three licensees: DraftKings, Fanatics and FanDuel. They represent some of the most popular sportsbook brands in other states.
Vermont sports gamblers should look for bonus offers for new customers from DraftKings, Fanatics, and FanDuel. The three sportsbooks opened for business in the state at midnight on Jan. 11.
For Vermonters, getting started with any of those apps or all three of them should be quite painless. There are a few points that Vermont residents should note now that the licensed sportsbooks are live.
How to get started with a Vermont sportsbook app
Federal and state laws include many provisions for legal online sports betting. Among those is that each bettor must have an account and can only have one account with each sportsbook. Vermont also requires bettors to be at least 21 years of age.
To sign up for an account, you’ll need to download the app onto your device. DraftKings, Fanatics, and FanDuel all have apps for devices operating on both the Android and iOS systems. Once you’ve installed the app(s), follow the prompts to register your account.
If you’ve already used one of the apps in another state, you can simply sign in with your existing credentials. You do not need to register a new account. You must sign up for each disparate sportsbook you intend to use in Vermont, though.
Each sportsbook must verify your identity to comply with anti-money laundering controls and age minimum standards. To do that, the sportsbook will ask for your full legal name, date of birth, at least part of your Social Security Number, and other identifying information.
After you’ve completed account registration, it will be time to make your first deposit so you can place bets. This may be when the books will offer you some bonuses that you can take advantage so be sure to read any emails or notifications.
Getting the most out of your initial deposit
With every offer from an online gambling company, it’s a best practice to read all the conditions. That way, you know whether the deal is for you and exactly what you need to do to get the best value for your money. At this time, it’s important to note that Vermont outlaws making sportsbook deposits with credit cards.
Common promotions include deposit matches and guarantees against lost bets. With deposit matches, the sportsbook will give you extra funds that you can use to place bets based on how much money you deposit and other conditions.
With what is commonly called “bonus bets,” the sportsbook gives you a do-over if you lose your first bet. In most cases, should your first bet be a loss, the sportsbook will credit you with the value of your bet up to a certain limit.
It’s important to note that in most cases, the bonus funds are not the same as real money. Those bonus funds usually come with play-through requirements, which means you will have to wager them successfully before you can withdraw the funds as cash.
Additionally, it’s common for payouts from winning bets placed using bonus funds not to include the original stake, merely the profit from your wager. Some offers come with time constraints as well, like a certain number of days the bonus funds are good for.
All this information is specific to the conditions of each offer from each sportsbook. Perhaps the best part of state launches like this is that you can take advantage of as many of these offers as possible. In fact, at least registering for all three apps is in your best interest.
It can pay to be a disloyal customer
There are some facets of life in which it’s beneficial to pick a brand and stick with it. That isn’t the case when it comes to online sports betting, however. It can literally pay to be selective and disperse your bankroll between the three apps.
This is more of a long-term consideration but it’s still worth noting as you make your initial deposits. Having active accounts with all three sportsbooks allows you to do one important thing: comparison shopping.
When you have identified a wager you want to make, it’s wise to look at the markets available for that bet on all three apps. That way, you can go with the book that is offering the best odds and see if any of the apps might be offering a promotion tied to that bet.
If you only sign up for one sportsbook, on the other hand, you either have to accept the odds they are offering or not place the bet. Comparing the markets allows you to get the best value for your money if you win.
If you’ve been waiting for these apps to go live to place some bets on University of Vermont Catamount games, you might be disappointed. There is some good news amid your disappointment, though.
Restrictions on college sports betting in Vermont
If you open DraftKings, Fanatics, or FanDuel in Vermont, you normally won’t find any betting markets for University of Vermont sporting events. The reason behind that fact is simple; Vermont law restricts such betting.
Wagering on in-state college teams remains illegal with one exception. That exception is any tournament in which at least four teams are participating. Then, regular-season contests are off the board, but postseason tournaments are eligible for wagering.
For example, if the Catamounts qualify for March Madness, the books will likely offer action on the games within that tournament. Outside of that, though, most of the popular sports in North America and worldwide are available for betting in Vermont.
Perhaps the most important consideration as legal online sports betting begins in Vermont is the importance of responsible gambling. The apps have some tools to assist with that endeavor.
Tips for betting on sports responsibly
The old axiom that an ounce of prevention is worth a pound of cure is true when it comes to problem gambling. There are simple strategies and tools to avoid developing an issue with gambling or deal with such an issue.
The sports betting apps allow you to set custom limits on the amount of money and time you spend. That can help you set parameters for your gambling and stick to them. Additionally, all three apps allow you to bar yourself from placing bets completely for a period of time.
Vermont law established problem gambling services under the state Dept. of Mental Health’s purveyance. The law earmarks 5% of the tax revenue from legal sports betting to support that program. Due to that funding, resources will be available free of charge for residents.
With the launch of regulated sports betting in Vermont on Thursday, Vermonters have access to these tools and a new way to enjoy their favorite sports.
