Maine Sports Betting Revenue Surges in April Despite Lower Player Spending
April brought a notable turnaround in Maine’s sports betting market, with revenue climbing 51.9% to $4.1 million, up from $2.7 million in March.
Details of Revenue and Betting Activity
Despite the encouraging rise in revenue, player spending saw a 19.5% decrease, with the total handle dropping to $38.3 million from a record $47.6 million in March.
The adjusted gross receipts, which account for voided and canceled bets, federal excise tax, and player winnings, showed robust growth.
In April, the void bets totaled $173,638, federal excise taxes amounted to $93,326, and player winnings reached $33.9 million.
Market Leaders in Maine
Sports betting in Maine is currently facilitated by two licensed operators: Caesars and DraftKings. DraftKings, in partnership with the Passamaquoddy tribe, has taken a clear lead by generating $3.8 million in adjusted gross receipts from $31.6 million in wagers.
In contrast, Caesars, collaborating with three Wabanaki nations— the Houlton Band of Maliseet Indians, Mi’kmaq Nation, and Penobscot Nation—reported significantly lower receipts of $342,841 from $6.7 million in bets.
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