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The first monthly report of Maine sports betting is out.
The state’s two sports betting operators – DraftKings and Caesars – generated over $37.61 million in betting handle (total bets). After subtracting players’ winnings and federal fees, the two lone operators made around $4.8 million in revenue.
The state imposes a 10% tax rate on adjusted gross revenue (AGR), resulting in $464,152 for state funds.
Maine sports betting officially went live on Nov. 3 after Gov. Janet Mills legalized it. The move gave Maine’s four Indigenous tribes the exclusive right to manage online sports betting in the state.
Three Wabanaki Nations (The Maliseet, Micmac and Penobscot Tribes) teamed up with Caesars, while DraftKings partnered with Maine’s Passamaquoddy Tribe.
Maine operators generate $4.8M in November gaming revenue
As the Maine Gambling Control Unit (MGCU) reported, sports betting handle during the 28 days of November was $37.61 million. Of that total:
- DraftKings collected $30.55 million in total bets
- American Wagering, which owns Caesars, generated $7.06 million
After all the necessary reductions and fees, Maine’s two lone operators took in around $4.8 million in revenue, as follows:
- DraftKings generated $4.26 million in AGR
- Caesars made $382,374
$4.9 million handle in first five days of Maine sports betting
Less than a week after the launch, the Maine Gambling Control Unit released preliminary numbers on the betting action in the state.
According to the MGCU’s report, Maine operators generated more than $4.87 million in handle and nearly $1.18 million in revenue. To be more specific:
- DraftKings made $4,205,144 in handle, resulting in $1,028,669 in revenue
- Caesars reported $660,094 in total bets, keeping $146,789 in revenue
Within the first few days of Maine sports betting, DraftKings and Caesars paid $8,362 in federal taxes and 117,546 in state taxes.
The numbers also show that the state’s sports betting soared during the weekend. The main reasons for this increase were the NFL games and college football season.
Besides, the weekend is usually the time when most of the betting action happens, as bettors have more free time to gamble than during the work week.
Throughout the first two weeks of online sports betting launch, Maine generated nearly $12.13 million in total bets.
