Sports betting could bring even bigger bucks this year than Vermont officials anticipated
The Scott administration is expecting the newly launched online sports betting program to generate more revenue this year than originally projected.
Just before the program started on Jan. 11, the three gambling companies licensed to operate here revised their market estimates to reflect greater participation by Vermonters.
Budget and Finance Commissioner Adam Greshin says the state was expecting just over $1 million in new revenue for the second half of the current fiscal year.
But he says that estimate has jumped to just over $3 million.
"They believe that six months of this fiscal year will produce a bit more revenue than we had originally forecast," Greshin says.
The state is expecting to receive its first report about the specific number of Vermonters participating in sports betting programs in mid-February.
Have questions, comments or tips? Send us a message.