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Vermont lowers online sports wagering forecast to $6.1 million for FY25 after higher-than-expected payouts
Summary
The Department of Liquor and Lottery told the Senate Appropriations Committee it is revising its FY25 online sports wagering revenue estimate from $7 million to $6.1 million after operators reported a rising share of winning payouts that reduced adjusted gross wagering revenue.
At a Senate Appropriations Committee meeting, Wendy Knight, commissioner of the Department of Liquor and Lottery, told legislators the department will revise its FY25 online sports wagering revenue projection to $6,100,000 from an initial $7,000,000 estimate.
Knight said the department derived the original estimate by annualizing the first six months of revenue after the program launched (January'June FY24), when the state realized about $3,500,000. But starting in July the department observed that the share of…
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