March Madness: Maine sports betting handle reaches $47.6m

The Maine Gambling Control Unit has released its sports wagering results for the month of March. The state’s two sports betting operators, DraftKings and Caesars, reported a combined handle of $47.6m.

The state first opened its regulated sports betting market in November. However, Maine has reported declines in revenue for the past three months. March revenue dropped by 41.9% when compared to February’s results and totaled $2.7m.

This is the state’s lowest revenue month to date.

DraftKings once again emerged victorious as the top-performing operator for the month. In partnership with the Passamaquoddy Tribe, the operator walked away in March with $2.5m in revenue after taking in almost $39m in wagers.

DraftKings players in March ended the month with total win of $36.2m.

Caesars, along with its three Wabanaki Nations partners, took in $8.6m in bets during March and earned $169,639 in revenue.

The operator currently partners with the Penobscot, Maliseet and Micmac Tribes. Caesars players took home $8.3m in win for the month of March.

Last month, Maine sports betting contributed $270,607 in state taxes. Players throughout the state got a significantly higher payout, though, taking home a total of $44.6m in winnings.

Sports betting made its debut in the state of Maine in November. Revenue during its first two months live has reached $9.3m, with an adjusted sports betting revenue of $9m.

Now nearly six months out from its sports betting market’s launch, November remains the state’s all-time high-performing month in terms of adjusted gross receipts.

However, March’s monthly handle is the highest yet.

David Thompson

Editor

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