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Maine sports betting receipts hit new high despite handle dip in January

| By Robert Fletcher
Adjusted gross receipts from sports betting in Maine reached a new monthly high of $5.5m (£4.4m/€5.1m) in January despite a dip in player spending.
Maine March

Total handle for January in Maine was $38.1m. This was 13.4% behind $44.0m in December but 1.3% ahead of $37.6m in November, the first month of legal betting.  

As for adjusted gross receipts, the January total was 25.0% ahead of $4.4m in December. It also beat the $4.6m generated in the opening month by 19.6%. 

Sports betting adjusted gross receipts account for voided and cancelled bets, player winnings and a 0.25% federal excise tax. 

In terms of total other tax due to the state, this amounted to $546,099 in January. Maine has a tax on sports betting of 10.0% of adjusted gross receipts.

DraftKings ahead in Maine two-horse race

Maine currently only has two licensed operators that offer sports betting: DraftKings and Caesars. Both have tribal partnerships in place, in line with Bill LD 585signed by Governor Janet Mills in May 2022.

DraftKings operates in Maine via a partnership with the Passamaquoddy tribe. In January, this partnership generated $4.7m in adjusted gross receipts from $32.1m, accounting for a large share of the market.

The only other approved operator in Maine is Caesars, which is partnered with three of the Wabanaki nations. These include the Houlton band of Maliseet Indians, Mi’kmaq nation and Penobscot nation.

During January, the Caesars partnership reported $743,762 in adjusted gross receipts. This was from a total monthly betting handle of $6.1m. 

Lawmakers propose bills for exclusive tribal gaming rights

In other news, last month it was announced Maine lawmakers will discuss proposals to permit tribes to have exclusive rights for igaming.

Those backing the proposals were hoping to follow a similar route as sports betting. 

The sports bill signed by Mills allows retail and online sports wagering, but internet sports betting can only be run by approved tribes. These tribes can apply for a licence to operate online betting and also partner one online operator each.

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