Maine sports betting handle reaches $44.4m in December

Maine sports betting handle registered an increase of 18 per cent during the first full month of legal sports betting in the state after its launch on November 3.

US.- Maine sports betting handle registered $44.4m in December according to the Maine Gambling Control Unit. December was the first full month of legal sports betting in the state after its launch on November 3 but with just three more days of operations, sportsbooks reported an increase of 18 per cent in sports wagers compared to November’s $37m.

In terms of revenue, sportsbook came to $4.6m and $4.3m once adjustments were taken into account. That’s a 6.5 per cent drop compared to the previous month as the adjusted win rate fell to 9.84 per cent in December.

DraftKings, which partnered with the Passamaquoddy tribe, lead the market with $35.3m in wagers, up 15.7 per cent from the previous month. This accounted for 79.5 per cent of all wagers placed during December. The company generated $4.1m in revenues. Caesars, which partnered with the Penobscot, Maliseet and Mi’kmaq tribes, registered $9m in wagers and $269,154 in revenue.

In December, the sports wagering tax rate of 10 per cent on adjusted sportsbook revenues saw the state collect $437,884 in taxes.

Maine’s governor Janet Mills signed a law to legalise sports betting in May 2022, giving tribes exclusive rights to conduct online wagering. Sports betting is expected to generate between $3.8m and $6.9m in revenue for the state. Tax is applied at 10 per cent of adjusted gross sports wagering receipts.