The Maine Gambling Control Unit has released its November sports wagering revenue report revealing that the first month of sports betting in the state saw sportsbooks take in over $37.6 million in wagers.
According to the report, the state’s operational legal sports betting operators, Caesars and DraftKings, reported accepting $37,605,088 since launching on November 3rd. This resulted in combined revenues of $4.6 million for the month from a win percentage of 12.34%.
DraftKings the Clear Market Leader
DraftKings, partnered with the Passamaquoddy tribe, was the market leader taking in over $30.5 million in wagers representing 81.1% of all wagers placed throughout the month. The company generated $4.2 million in revenues.
Caesars, partnered with the Penobscot, Maliseet and Mi’kmaq tribes, reported accepting just over $7 million in wagers. This generated $382,373 in revenues.
The sports wagering tax rate of 10% on adjusted sportsbook revenues saw the state collect $464,151 in taxes for the first month of legal sports betting in Maine.
Year-to-Date 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 |
| Totals | $37,605,088 | $4,723,856 | 12.56% | $4,641,512 | 12.34% | $464,151 |
BetMGM Yet to Launch
Meanwhile, BetMGM has been selected as a partner for retail sports betting with two sportsbooks set to launch at OTB outlets in Waterville and Sanford. Penn Entertainment and Churchill Downs run the state’s two casinos that will be permitted to open retail sportsbooks. Hollywood Casino will most likely be affiliated with the newly launched brand ESPN Bet following its partnership deal with casino owner Penn Entertainment.
Image credit: Ron Gogswell / CC BY 2.0 Deed
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.
