Maine Sports Betting Handle Increases in May Despite Revenue Drop
Maine’s sports betting handle for May 2024 reached $39.9 million, reflecting a 4.2% increase from April’s $38.3 million.
Operator Performance
Despite the higher handle, gross gaming revenue (GGR) for May was $3.3 million, down 19.5% from the previous month. The state collected $331,279 in tax revenue, with players winning a total of $36.3 million.
Maine currently has two licensed sports wagering operators: DraftKings and Caesars.
DraftKings, in partnership with the Passamaquoddy tribe, reported $2.9 million in adjusted gross receipts from $33.1 million in bets.
Caesars, partnered with the Wabanaki nations, including the Houlton Band of Maliseet Indians, Mi’kmaq nation, and Penobscot nation, posted $427,718 in adjusted gross receipts from $6.8 million in bets.
Legislative Context
For the first five months of 2024, total adjusted gross receipts stood at $19.9 million, with DraftKings contributing $17.8 million and Caesars $2.1 million. During this period, players spent a total of $197.7 million on sports betting.
In April, Maine’s House of Representatives rejected a bill that would have granted exclusive online gambling rights to the state’s Wabanaki tribes. This legislation aimed to provide the tribes with exclusive control over iGaming, but it did not pass.
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