Maine’s new sports betting platform is off to a good start, with gamblers placing an average of more than $1 million in bets per day during its initial rollout.
Two mobile apps in Maine began offering sports betting on November 3, as the state joins a national trend to legalize betting on athletics. Through Nov. 15, the total amount wagered was just under $14 million, according to statistics from the Maine Gaming Control Board.
Accounting for player payments and federal taxes, Maine received just under $279,000 in revenue during the first 13 days of betting. Under state law, 10% of “adjusted gross revenue” is returned to the state treasury.
Milton Champion, executive director of the Division of Gambling Control, said Friday that sports betting is projected to bring in between $4 million and $7 million in revenue for the state in 2024. And Champion said he believes reaching that cap is realistic based on statistics. Activities for the first two weeks.
“I think it’s going well,” Champion said. “I like to feel like we’re starting in a calm period, a calm period. … So I’m looking forward to seeing what happens once we get through the Super Bowl and March Madness. And, like I said, , I’m even more nervous to see how we do during the summer months when out-of-state visitors come. So it will certainly be interesting to track. ”
Since the U.S. Supreme Court issued a federal ban in 2018, the majority of states have moved to allow some form of sports betting.
In Maine, four Wabanaki tribes have been given exclusive rights to offer mobile sports betting, but in-person gambling will eventually be allowed in licensed off-premises gambling halls and casinos. Meanwhile, the tribe has partnered with DraftKings and Caesars Sportsbook to offer betting through its app.
Gamblers must be 21 years of age or older and are prohibited from betting on high school sports or other athletic events where the majority of participants are under 18 years of age. Wagering is also prohibited at college events involving Maine teams.
Of the 10% tax revenue collected by the state, 6.5% goes to the state’s general fund and 1% goes toward administrative fees within the Gambling Management Department. An additional 1% will go toward gambling addiction prevention and treatment programs, and the remaining funds will be distributed to the State Harness and Horse Racing Commission, the Sire Stakes Fund, and the Agricultural Fair Promotion Fund.