Maine Sports Betting Market Limited and Not Likely to Go Live for Another Two Years
The DraftKings and FanDuels probably won't be entering the more restrictive Maine sports gambling market, according to reports.
That's a result of mainly the revenue structure designed to favor the tribes and Maine’s status as a small state.
Up to 12 entities have reached out to the Maine Gambling Control Unit to introduce themselves and offer information about their services, said Milton Champion, the unit’s executive director.
Sounds like the demand is high, right?
Those entities are the likes of the NFL as a governing body as well as representatives of Oxford Casino, sports data trackers, payment companies and geolocators, not the actual big name sports betting companies (i.e. DraftKings, FanDuel, Caesars, BetMGM).
“There’s clearly some interest,” Champion said. “But let’s face it, Maine isn’t a $6 million state. It’s not going to push out big numbers.”
Mobile sports betting rights go exclusive to the Wabanaki tribes.
The other issue has to do with the amount of revenue that can be kept. Maine will only allow companies to keep up to 40% of revenue generated from wagers.
Sports betting might not even go live for another two years.
- GIlbert Horowitz, Gambling911.com
