Vermont's new sports betting system saw its first Super Bowl

Vermont's new online sports betting system took in just over $2 million in wagers on the Super Bowl.

Liquor and Lottery Commissioner Wendy Knight says 35,000 people placed roughly four bets each on the game. The average bet was $15.

Vermonters accounted for three quarters of all bets, with people from out of state placing the rest.

The three sports betting companies licensed to operate in Vermont made a massive advertising push over the last month. But Knight says only 4% of bettors were new users.

"I think what we are seeing right now is that there's been a lot of pent up demand and there's not a lot of active new users," Knight said. "Now that will probably start to change."

Knight says the percentage of Vermonters betting on the Super Bowl was far higher than in the first few weeks of operation.

In January, visitors from out of state accounted for more than half of all online bets in Vermont. But that number fell to just 24% for the Super Bowl.

"So one of the trends is going to be interesting to watch is how much out-of-state players are driving the online sports wagering activity in Vermont," Knight said.

Knight thinks that many out-of-state bettors didn't travel on Super Bowl weekend, and that these percentages will rise again in coming months.

Based on the strong initial response to online sports betting, the state has revised its revenue projections.

It now expects to raise between $8 and $10 million in its first six months of operation.

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