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Online Sports Betting Industry

Online Sports Betting in Maine Gets Off to Great Start

By Amelia Walker Senior Content Writer Updated: 04 December 2023

Amelia Walker Senior Content Writer

Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.

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The start of November this year marked a significant and exciting turning point in Maine’s gambling landscape with the launch of online sports betting.

Within just 13 days of the launch of online sports betting, the Maine Gambling Control Unit reported an impressive total handle of close to $14 million, equating to just over $1 million a day being wagered by sports fans across the state.

The impressive figure was achieved in part thanks to the ongoing football season, which breaks the slow summer months and always has high interest from bettors. The launch of sports betting came at a great time for the state, with the football season just under two months in, and many sports fans eager to place their bets.

The Financial Implications of Sports Betting for the State

The financial implications of the online sports betting market are substantial based on figures released so far. Nearly $279,000 in tax revenue has been generated for the state from sports betting activity so far.

Maine imposes a 10 percent tax on adjusted gross gaming revenues, calculated after deducting payouts to players and federal fees. This revenue stream has opened a new financial avenue for the state’s coffers.

Milton Champion, the executive director of the Gambling Control Unit, expressed optimism regarding the future of online sports betting in Maine. He anticipates sports betting activities will bring in between $4 million and $7 million in tax revenue for the year 2024.

Given the strong start, Champion is hopeful that the market will lean toward the upper end of these projections, especially with major sporting events like the Super Bowl and March Madness on the horizon. He said:

I think it’s going well. I like to feel that we’ve opened during a soft time, a soft period . . . So, I’m anxious to see how we do over the Super Bowl and March Madness.

He added that he was eager to see what performance was like over the summer months when there were out-of-state visitors.

Plans to Expand Sports Betting within the State

Looking ahead, Maine plans to expand its sports betting offerings. Exclusive rights have been granted to four Native American communities in Maine to offer sports wagering through partnerships with DraftKings and Caesars Sportsbook. The next phase will see the introduction of in-person betting at licensed off-track casinos.

The tax revenue from gambling is allocated across various sectors. While 6.5 percent goes to the state’s General Fund, 1 percent is earmarked for administrative costs within the Gambling Control Unit. The remainder is distributed among initiatives for problem gambling, the State Harness Racing Commission, the Sire Stakes Fund, and the Agricultural Fair Promotion Fund.

The launch of online sports betting in Maine has not only provided an exciting new pastime for its residents but also opened up a promising revenue stream for the state. As the market continues to grow and evolve, more and more sports fans are likely to start placing their bets at the state’s online sportsbooks.