Maine’s sports betting handle reached $38.8Million in April 2024, according to the latest report from the state’s Gambling Control Unit.
Compared to March 2024, this figure was down 19.5%. In total, bettors wagered $47.6m last month. Maine’s Gambling Control Unit also confirmed that overall revenue increased by an impressive 51.9% in April 2024.
The monetary value was recorded at $4.1m. Adjusted gross receipts are calculated in Maine by subtracting voided and cancelled bets, federal excise tax and player winnings from the handle.
Therefore, voided bets accumulated to $173,638 with federal excise tax at $93,326 and player winnings coming in at $33.9m.
Maine’s Sports Betting Handle
Maine’s sports betting handle comes via just the two wagering operators – DraftKings and Caesars. The duo offer online sports betting facilities through tribal partnerships.
DraftKings partnered with the Passamaquoddy tribe, which generated $3.8m in adjusted gross receipts from $31.6m in wagers placed.
On the other hand, Caesars work alongside the Wabanaki nations Houlton band of Maliseet Indians, Mi’kmaq nation and Penobscot nation. They posted $342,841 from $6.7m in bets.
When comparing DraftKings and Caesars, the former leads the way in terms of wagers placed and they turn a much higher revenue.
So far in 2024, adjusted gross receipts in Maine stand at $16.5m. In terms of player wagers, $157.8m has been recorded up until the end of April.
Maine’s Online Casino
As online sports betting continues to flourish, Maine’s chances of introducing online casinos are looking increasingly unlikely to come to fruition.
Tribes have been involved in ongoing talks to roll out online casinos in the Pine Tree State. A bill was submitted to pave the way to a legal market.
Nonetheless, the bill was not given the green light and is now considered dead in the water. Unusually, the bill was passed to the senate the bill tribes failed to pass the house.
The senate declined to pass the proposal and then voted to table the issue.
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