Maine’s Sports Betting Hits Record Handle with Growth Surge in March
Maine’s sports betting reached new heights in March, with the handle of $47.6 million. This marked a notable 40.8% increase from February’s $33.8 million, setting a record since the state’s legal betting market inauguration in November of the previous year.
Revenue Dynamics
Despite the handle’s growth, the adjusted revenue for March experienced a downturn, totaling $2.7 million—a 41.9% decline from February. This represents the lowest revenue figure since the commencement of regulated betting in Maine.
The state benefited from this betting activity, garnering $270,607 in tax revenue. Additionally, the players saw significant returns, with winnings amounting to $44.6 million.
Exclusive Operator Landscape
Maine’s sports betting ecosystem is unique, with only two licensed operators: DraftKings and Caesars. These entities have established partnerships with tribal groups, aligning with the legislation signed in May 2022 that grants exclusive online wagering rights to tribes.
On the other hand, the state imposes a 10% tax on the adjusted revenue of online sportsbook operators, a policy designed to ensure a fair contribution to the state’s coffers while promoting a regulated and responsible betting environment.
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