Home NewsCasino Maine Sports Betting Handle Exceeds $44.0m In December

Maine Sports Betting Handle Exceeds $44.0m In December

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In December 2016, Maine players bet $44.0m on sports.

The total handle in December was $44.5m. The total handle for December was $44.5m. This is 18.4% more than the $37.6m that Maine spent during November, its first month with legal gambling.

Maine will launch its sports betting market in December 2023.

Betting in December brought $39.9m to the betting industry. A total of $4.4m was left after subtracting the winnings and federal excise of $107 478 and cancelling and voiding bets worth $132 376. The adjusted gross receipts for the first month were $4.4m, a 4.4% decrease from $4.6m.

State of Maine Gambling Control Unit also added that tax revenue generated by legal gambling was $437,884. DraftKings, as well as Caesars Casinos, pay 10% tax on their adjusted gross revenues.

DraftKings Maine Player

DraftKings is the most successful Maine licensed operator so far. In December it reported $4.1m of adjusted gross revenue from bets totaling $35.4m.

Maine bettors won $31.1m with DraftKings. The operator had to pay $85,129 federal excise taxes and $410 969 other taxes.

Caesars reported adjusted gross receipts of $269.154 on a total handle of $9.1m.

The total amount of player winnings for the month of December was $8.8 million. Caesars paid an additional $22,349 federal excise taxes and $26,915 other taxes.

DraftKings, Caesars to form tribal partnerships

DraftKings is a partner of the Passamaquoddy Tribe in Maine. Caesars works in Maine with the Passamaquoddy tribe and three Wabanaki nations, including the Houlton Band of Maliseet Indians (Houlton), the Mi’kmaq Nation, and the Penobscot Nation.

Bill LD585 was signed into law by Janet Mills on May 20, 2022. It allows both online and retail sports betting. Internet sports betting can be operated only by tribes that have been approved in the state.

The tribes may apply for an online gambling licence. Each tribe may partner with one online betting operator.

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