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Good Start Reported for Sports Betting in Maine

Davis Isabela

Updated on November 10, 2023 at 12:57 PM EST. Read time: 1 minute and 51 seconds. Find more information on Twitter and Google News.

A Lewiston, Maine strong flag is flown prior to the game between the Washington Commanders and the New England Patriots as we look at the Main sports betting report.
A Lewiston, Maine strong flag is flown prior to the game between the Washington Commanders and the New England Patriots. Photo by Maddie Meyer/Getty Images/AFP.

Maine’s legal sports betting platform, complete with top sports betting apps, has seen early success in its first week since launch. The popularity of the apps has been boosted by a busy weekend of NFL, NBA, and NHL games, which have helped generate profits for the state’s new sports betting industry.

Statistics for the initial five days of legalized sports betting in Maine were disclosed on Thursday, indicating promising prospects for the industry’s future.

Currently, DraftKings Maine and Caesars Maine have partnered with Native American tribes in the state to launch their online gaming platforms. DraftKings is working with the Passamaquoddy tribe, while Caesars is collaborating with the Houlton Band of Maliseet Indians, the Mi’kmaq Nation, and the Penobscot Nation.

$5.4 million handle for five days

The Maine Department of Public Safety and its Maine Gambling Control Unit have observed strong activity in the state’s sportsbooks during the first five days of operation. This level of activity is considered brisk compared to Maine’s sports betting standards. Maine’s licensed sports betting providers, who provide Maine sportsbook promotions, received a total of $5.4 million in bets during the first week of NFL games up to Wednesday.

DraftKings, one of the top sportsbooks, dominated Maine’s five-day handle by accounting for the majority of bets. The book generated $4.7 million in bets, representing 88% of the total wagering. Caesars contributed the remaining $700K in bets.

During its initial full weekend of betting activity in Maine, DraftKings raked in $3.4 million, which encompassed bets placed from Friday morning to Sunday night.

State operators paid out $4 million in winnings, not including futures bets which will be awarded later. The hold rate for Maine sports betting apps was a favorable 24% over a five-day period.

Simply put, the Maine legal sports betting industry and its betting sites are off to a good start.

Benefits of the Maine market

Despite having a small population of 1.36 million residents and no professional sports teams, Maine is considered to have a promising legal sports betting market. Operators in this jurisdiction will be subject to a 10% tax on revenues, in addition to an initial licensing fee of $200,000.

A portion of the tax revenue will be allocated for programs addressing gambling addictions, with 6.5% being allocated to the state’s general fund to support government programs.

Tax revenue is projected to range from $3.8 million to $6.9 million in the inaugural year of operation.

Maine sports betting apps have had a strong start, with plenty of NFL season left and exciting events like Super Bowl betting and March Madness still ahead.

Although often overlooked by analysts, Maine and its Gambling Control Unit could serve as a valuable blueprint for smaller states seeking to implement legal sports betting platforms.

Written By:
Davis Isabela
Davis Isabela is the Editor-in-Chief of Underscoreg Review. He has been a writer, reporter and editor for more than 20 years, and his work has appeared in more than 200 publications across North America. His first book, “100 Greatest Canadian Sports Moments”, was a hardcover best-seller in Canada in 2008. He has written more than 50 sportsbook reviews and dozens of other sportsbook-related content articles. James has also been quoted as a sports betting expert in USA Today and Sports Illustrated.