The Maine Gambling Control Unit has released its first sports wagering revenue report of 2024 revealing that the state’s two licensed sports betting operators reported accepting over $38.1 million in wagers.
January was the third month of legal sports betting in Maine and only the second full month following the official launch of the industry on November 3rd. The latest figures for January mark a drop of 14.1% on December’s wagers.
Despite a drop in sportsbook activity, revenues came to $5.5 million and $5.4 million once adjustments were taken into account. This represents a 25.5% increase on the previous month as the adjusted win rate grew from 9.84% in December to 14.32% in January.
DraftKings Continues as Market Leader
DraftKings, partnered with the Passamaquoddy tribe, was the market leader taking in over $32 million in wagers. This accounted for 83.9% of all wagers placed during the month. From those wagers, the company generated $4.7 million in revenues.
Caesars, partnered with the Penobscot, Maliseet and Mi’kmaq tribes, reported accepting just over $6 million in wagers. This generated $743,762 in revenue.
The sports wagering tax rate of 10% on adjusted sportsbook revenues saw the state collect $546,149 in taxes for the month of January.
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 |
| Jan 2024 | $38,133,928 | $5,553,604 | 14.56% | $5,461,492 | 14.32% | $546,149 |
| Totals | $120,225,851 | $14,896,158 | 12.50% | $14,481,847 | 12.17% | $1,448,184 |
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.