Is there such a thing as an Olympics bump?
The summer usually brings yearly low handles and revenue for sports betting states, but judging by the Pine Tree State’s inaugural July figures, Maine sports betting participants may not be familiar with this trend just yet.
The Maine Gambling Control Unit (MGCU) announced that the state’s operators took in $42.7 million in bets last month, the second-highest handle since Maine launched sports betting in November.
Not only did handle grow month-to-month, but revenue absolutely exploded. After removing canceled wagers, Maine’s sportsbooks paid out $35.7 million, meaning they kept roughly 15% of the action. For reference, states are usually happy to see a hold above 8%.
