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Despite its modest size, sports betting in Maine continues to bring in a sizable amount of tax money. The tax increased from $417,000 in December to $698,000 last month due to $50.7 million in wagers reported by the Maine Gambling Control Unit (MGCU) for January. Despite mounting criticism, this bump gives lawmakers a reason to continue supporting the sector.
DraftKings has maintained its dominance since legal sports betting was introduced in Maine. Its handle, which was seven times greater than Caesars’, was $43.8 million in January. DraftKings further cemented its position by outperforming Caesars by a factor of ten in terms of revenue.
While Caesars’ betting handle increased by just 8% from January 2023, DraftKings’ increased by 36%. When payouts and adjustments are taken into consideration, DraftKings’ net receipts increased 34% annually. Caesars, however, saw a drop, indicating a growing distance between the two operators.
| Operator | Betting Handle | Gross Revenue |
|---|---|---|
| Caesars Retail Sportsbooks | $449,000 | $10,000 |
| DraftKings Mobile Sportsbook | $43.8 million | $6.3 million |
| Caesars Mobile Sportsbook | $6.5 million | $636,000 |
| Total | $50.7 million | $6.9 million |
DraftKings and Caesars are the only two online choices available to gamblers in Maine. With only one physical location—Oddfellahs Sportsbook and Bar, which is connected with Caesars—retail betting is even more limited. But after an appeal, Oddfellahs reopened after momentarily losing its operating license due to a technical glitch.
Like the rest of New England, Maine has a small market with few options. DraftKings has a stranglehold on sports betting in New Hampshire. Although there are three sportsbooks in Vermont, a measure that has been suggested might completely ban sports betting. The only state in the area having a competitive market is Massachusetts.
As restrictions persist, bettors in Maine and surrounding states may continue to face a lack of variety in their wagering choices.