Maine reports $47.6 million March sports betting handle

Friday, April 12, 2024 2:36 PM
Photo:  50 yard line flickr photo by jimmywayne shared under a Creative Commons (BY-NC-ND) license
  • Mia Doyle, Special to CDC Gaming

Maine sports bettors wagered a record $47.6 million in March, the Maine Gambling Control Unit has reported.

While the March figure represents the highest handle since sports betting went live in November last year, adjusted revenue was at its lowest this month.

The Maine Legislature passed legal online and retail sports betting in May 2022, but it took until November 2023 for the state’s two operators, Caesars and DraftKings, to officially launch. While this means there is no data available for a year-over-year comparison, the March figure shows an increase of 40.8 percent from February, when the state recorded a handle of $33.8 million.

Adjusted revenue decreased 41.9 percent from February to $2.7 million, the lowest it’s been since Maine launched sports betting. This figure also represents a 41.3 percent decrease compared to the record of $4.6 million set by the state in November. Players won $44.6 million in March, while tax revenue for the state amounted to $270,607. Sports betting AGR is taxed at 10 percent in Maine.

This week, a bill to legalize online casinos in Maine failed by three votes, but it has been sent from the House to the Senate, who could potentially keep the measure alive.

Mia Doyle is a news writer for Major League Content, covering the latest stories across the casino and sports betting industry. Mia’s specialties include US gambling business, casino technology, and legislation news. Mia also likes to write about responsible gambling and social responsibility.