The Maine Gambling Control Unit has released its December sports wagering revenue report revealing that the state’s two licensed sports betting operators reported accepting over $44.4 million in wagers.
December was the first full month of legal sports betting in Maine following the official launch of the industry on November 3rd. However, with just three more days of operations in December, sportsbooks still reported a significant increase of 18% in sports wagers.
Despite an increase in activity, sportsbook revenues came to $4.6 million and $4.3 million once adjustments were taken into account. This represents a 6.5% drop on the previous month as the adjusted win rate fell from 12.34% in November to 9.84% in December.
DraftKings Remains as Market Leader
DraftKings, partnered with the Passamaquoddy tribe, was the market leader taking in over $35.3 million, up 15.7% on the previous month. This accounted for 79.5% of all wagers placed during the month. From those wagers, the company generated $4.1 million in revenues.
Caesars, partnered with the Penobscot, Maliseet and Mi’kmaq tribes, reported accepting just over $9 million in wagers. This generated $269,154 in revenue.
The sports wagering tax rate of 10% on adjusted sportsbook revenues saw the state collect $437,884 in taxes for the month of December.
2023 Sports Handle, Revenues & Taxes in Maine
| Period | Total Handle | Sportsbook Revenue | Win % | Adjusted Sportsbook Revenue | Adjusted Win % | State Taxes |
|---|---|---|---|---|---|---|
| Nov 2023 | $37,605,088 | $4,723,856 | 12.56% | $4,641,512 | 12.34% | $464,151 |
| Dec 2023 | $44,486,835 | $4,618,698 | 10.38% | $4,378,843 | 9.84% | $437,884 |
| Totals | $82,091,923 | $9,342,554 | 11.47% | $9,020,355 | 11.09% | $902,035 |
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.