The state of Maine has witnessed an impressive foray into the sports betting arena, with the total handle reaching $37.6 million in its inaugural month. The launch of the market on November 3 saw the inaugural period extending for 27 days up until the end of the month. During this time, players claimed winnings of $32.7 million from their wagers. Once adjusted for $137,112 in voided bets and $82,342 attributed to federal excise tax, the figures reflect an adjusted gross receipt tally of $4.6 million for the state’s market debut.
Further contributing to the state revenue, the Maine Gambling Control Unit reported collecting $464,152 in other forms of tax. It should be noted that operators in this new market are taxed at a rate of 10% on their adjusted gross receipts. A close look at the performance of the active operators during this initial phase reveals that DraftKings and Caesars were the only two names live in November, both initiating operations on the market’s opening day.
DraftKings emerged as the front-runner between the two, achieving $4.3 million in adjusted gross receipts from a substantial $30.5 million handle. Collaborating with the Passamaquoddy tribe, DraftKings has made its online sportsbook available to the Maine populace. Gamblers registered winnings of $26.1 million through DraftKings, which also paid $65,467 in federal excise tax along with an additional $425,914 in other tax contributions.
On the other side, Caesars’ reported adjusted gross receipts stood at $382,374 from a handle of $7.1 million. Bettors won a sum of $6.6 million on Caesars’ platform. This operator, which has established itself in Maine through partnerships with three of the Wabanaki Nations—the Houlton Band of Maliseet Indians, Mi’kmaq Nation, and Penobscot Nation—contributed $16,875 in federal excise tax and $38,237 in other taxes.
This surge into sports betting comes nearly a year and a half after the state of Maine made the activity legal. Governor Janet Mills signed into law a bill that sanctioned both retail and online sports wagering in the spring prior to the market opening. The legislation, known as LD 585, stipulates that internet sports wagering within the state boundaries can only be administered by approved tribal entities. These tribes are entitled to apply for a license to operate online betting and are authorised to partner with one online operator each.
For retail sports wagering, interested entities such as racetracks and off-track betting locations can seek licenses for land-based operations. This combined approach looks to effectively integrate both physical and online betting options, providing a comprehensive gaming environment for bettors in Maine.
Maine’s entry into the sports betting sector is indicative of the continuing trend across the United States where states are embracing sports wagering as a legal and regulated enterprise. As the industry evolves and expands, the economic impact and regulatory structures will be closely monitored to ensure responsible growth and consumer protection.
The excitement surrounding these operations is palpable, with the market’s robust performance reflecting bettors’ enthusiasm. As Maine continues to establish its presence in the sports betting world, it is expected to become a significant player, leveraging the alliance between tribal entities and commercial operators to create a vibrant and responsible betting ecosystem.
