Maine Sports Betting Revenue Declines in March

The decrease in the Pine Tree State's total state tax revenue from February to March 2024 represented a dip of $154,387.

Apr 14, 2024 • 09:00 ET • 4 min read
Adrianna Smith Maine Black Bears NCAAB
Photo By - USA TODAY Sports

Despite seeing $47.6 million wagered in its legal sports betting market, Maine's revenue for March dipped. 

Since launching Caesars Sportsbook and DraftKings Sportsbook in November 2023, which remain the only two licensed online sportsbook operators in Maine, the Pine Tree State has seen a steady decline in tax revenue, dropping to a total of $270,613 for last month.

Analyzing Maine’s March 2024 sports betting numbers

Roughly $150,000 worth of voided and canceled bets were logged in Maine. Combine this number with player winnings and the federal excise tax from the total betting handle, resulting in just under $2.7 million in adjusted gross receipts. 

Sports bettors won $44.6 million in March, while Maine collected $270,613 in state tax revenue between DraftKings Sportsbook and Caesars Sportsbook.

Maine’s total state tax revenue also shrunk from $425,000 accrued in February 2024 to $270.613. Tax revenue allocated to the state’s General Fund goes to several programs, including gambling addiction prevention and treatment services, the Harness Racing Commission, and agricultural fairs.

DraftKings Sportsbook remains the most popular online sportsbook operator in the Pine Tree State, garnering $39 million of the $47.6 million wagered by sports bettors in March 2024. Caesars Sportsbook was responsible for the other $8.6 million in wagers placed last month. 

Latest Maine betting news

Retail sports betting, made legal through the signing of LD 585 by Gov. Janet Mills, which also legalized online sports betting in Maine, went into effect on July 31, 2022. However, as of today, Maine still has no retail sportsbook partnerships announced.

In the future, the state's legal sports betting marketplace plans to include in-person betting at casinos and off-track betting facilities. 

This past week, Maine’s online casino bill was voted down in the House. The Senate can still pass this bill to legalize iGaming, or online casino gaming, which would subsequently go to Gov. Mills to sign off for final approval.

Pages related to this topic

Popular Content

Covers 25 Years Logo Established in 1995,
Covers is the world
leader in sports
betting information.
Covers is verified safe by: Evalon Logo GPWA Logo GDPR Logo GeoTrust Logo Evalon Logo