January Sports Gambling In Maine Sees $38M In Handle, A 14% Monthly Drop

According to Maine regulators, players in the state spent $38.13 million between Caesars Sportsbook and DraftKings Sportsbook last month.

Total betting figures in January compares to:

• $44.49 million in betting handle in December
• $37.61 million in total bets in November

January marks Maine sportsbooks’ third month of operation as they went live on Nov. 3, 2023.

January sports betting handle (also referred to as a total bet amount) is a 14.28% month-over-month decrease, representing a decrease of over $6 million.

DraftKings gets 84% of Maine’s January sports betting action

Of the total bet amount reaching $38.13 million, DraftKings was responsible for most of the action. Namely, the US gambling giant managed to attract 84.09% of the January handle.

Here’s a quick breakdown:

• DraftKings (partnered with the Passamaquoddy tribe): $32.07 million in total bets
• Caesars (partnered with the Penobscot Nation, the Houlton Band of Maliseets, and Mi’kmaq tribes): $6.07 million in betting handle

Both operators showed a monthly decrease from the total amount gambled in Maine in December 2023, as follows:

• DraftKings’ January handle is a 9.39% month-over-month drop
• Caesars’ total bets represent a monthly decline of 33.30%

Maine sportsbooks collect $5.5M in revenue, a 25% monthly increase

The Maine Gambling Control Unit’s January 2024 report reveals that Caesars Sportsbook and DraftKings generated $5.46 million in taxable revenue.

Maine levies a 10% privilege tax on adjusted gross revenue for both licensees. As a result, the state collected $546,149 in taxes in January.

Like the betting handle, most of the revenue (86.38%) came from DraftKings. Of the total revenue amount collected in January:

• DraftKings made $4.72 million
• Caesars generated $743,762

Despite the monthly decrease in betting handle from December, January revenue represents a 24.73% monthly progress for the Maine operators.

A portion of Maine’s tax revenue goes toward several specified state programs. These include:

• The state government’s General fund
• Administrative expenses gambling control unit
• Gambling addiction prevention and treatment fund
• Harness racing commission
• Sire Stakes
• Agricultural Affairs