Maine sees solid first month of sports betting with over $37m in handle
DraftKings establishes early foothold over Caesars in inaugural numbers from Pine Tree State
Legalized sports betting in Maine got off to a solid start in November with the state’s sportsbooks generating $37.6m in total handle, according to data from the Maine Gambling Control Unit (MGCU).
Maine launched its sports betting market at the beginning of November and runs it through the state’s four tribes, which have in turn partnered with two mobile operators – DraftKings and FanDuel – to offer online wagering.
Boston-based DraftKings jumped out to an early lead in the first month, accounting for $30.5m of statewide handle, with Caesars accepting $7.1m in wagers.
The two operators combined to hold a strong 12.9% – significantly higher than the industry average of 7%-8% – which resulted in $4.9m in gross gaming revenue (GGR) and $4.6m in adjusted gross revenue (AGR) after the deduction of voided wagers and federal excise tax.
With sports betting AGR taxed at 10%, state coffers received $464,152 in tax payments from the first month of business.
The MGCU notably breaks down wagering activity by the day, which provides a window into bettor behavior and tendencies.
The NFL, for example, unsurprisingly looks to have been the biggest driver of action in November, as DraftKings’ three biggest days by handle for the month – November 26, November 19, and November 12 – all fell on Sundays. That was followed by Thanksgiving Day, which featured a tripleheader of NFL games.
DraftKings generated a total of $4.3m in AGR for the month, while Caesars produced a little over $382,000 in taxable revenue.
Maine sportsbooks officially launched on November 3, meaning December will mark the first full month of results.