Maine sports betting handle reaches $38m in April

Revenue increased 51.9 per cent month-on-month to $4.1m.

US.- Maine’s sports betting handle was $38.3m in April, down 19.5 per cent from March, when players wagered $47.6m. According to numbers provided by the Maine Gambling Control Unit, revenue was $4.1m, an increase of 51.9 per cent compared to the previous month.

Maine calculates adjusted gross receipts by subtracting voided and cancelled bets, federal excise tax and player winnings from handle. Voided bets in April totalled $173,638, federal excise tax $93,326, and player winnings $33.9m.

Maine has just two licensed sports wagering operators: DraftKings and Caesars. Both offer sports betting via tribal partnerships. DraftKings, partnered with the Passamaquoddy tribe, generated $3.8m in adjusted gross receipts from $31.6m in wagers. Caesars, working with the Wabanaki nations Houlton band of Maliseet Indians, Mi’kmaq nation and Penobscot nation, posted $342,841 from $6.7m in bets.

See also: Maine House rejects online gambling bill

Adjusted gross receipts in Maine for the four months to April stands at $16.5m. Players have wagered $157.8m.

The law signed in May 2022 gives tribes exclusive rights to conduct online wagering. Online sportsbook operators are taxed at 10 per cent of adjusted revenue.