Maine’s Online Sports Betting Market Sees $14M in Wagers in First Two Weeks
Maine’s Gambling Control Unit reported that since the launch of online sports betting on November 3, 2023, the state has seen a total of almost $14 million in bets. This impressive figure comes just 13 days after the launch of two mobile sports betting apps, which have seen state bettors placing more than $1 million in daily wagers on popular sports.
The betting activity in Maine has also brought in approximately $279,000 in tax revenues to the state over the same period. The state law imposes a 10% tax on the adjusted gross gaming revenues, and this tax regime has already started to contribute significant funds to the state’s General Fund and other programs.
Milton Champion, the executive director of the Gambling Control Unit, expects sports betting activities to generate between $4 million and $7 million in tax revenues in 2024. Based on the strong start to online sports betting in the state, Champion is optimistic about hitting the upper end of this range, especially with major sporting events like the Super Bowl and March Madness on the horizon.
The state of Maine has four Native American communities that are exclusively allowed to offer sports wagering through partnerships with DraftKings and Caesars Sportsbook. These partnerships allow for mobile sports wagering through apps, and in-person betting at licensed off-track casinos is expected to follow soon.
To participate in sports betting in Maine, individuals must be 21 or older, and betting is prohibited on high school sports, events with participants under the age of 18, and college sports featuring Maine teams.
With a total of $14 million already wagered in just two weeks, the online sports betting market in Maine is off to a strong start, and the state’s Gambling Control Unit is hopeful for continued success in the months to come.