Maine Takes in Over $3 Million in First Week of Sports Betting
Sports betting began in the state early Friday morning of last week and DraftKings reported more than $3,406,000 in total wagering receipts for this past weekend alone.
There will be a 16% tax rate for online sportsbooks and a 10% rate for retail sportsbooks plus an addition to the 24% tax applied by the federal government to all gambling winnings. Those 21 and up can place bets.
Only DraftKings and Caesars have obtained a license in the state. DraftKings grabbed the last sports betting license available in the state in a partnership with the Passamaquoddy Tribe.
The tax collected from the first weekend of sports betting with DraftKings came out to nearly $82,000.
From the money bet, more than $2.5M was paid out in winnings.
Caesars Sportsbook launched through Caesars’ partnership with three of the Wabanaki Nations: the Houlton Band of Maliseet Indians, the Mi’kmaq Nation and the Penobscot Nation, furthering Caesars Entertainment’s longtime commitment to supporting Indian gaming. Caesars Sportsbook was the first operator to secure a deal in Maine and took three of the four available licenses in the state.
There could be as many as ten retail sports betting sites in the state. Eligibility to offer sports betting in-person is limited to commercial tracks, casinos, and off-track betting locations in the state.
- Gilbert Horowitz, Gambling911.com
