Maine releases proposed rules for sports betting
The state legalized sports wagering in August, but its launch is yet to occur.
Maine has launched the formal process of instituting sports betting by releasing proposed rules, but state officials have said that it will take months before any wagers are placed. The legalization of Maine sports betting took place last August but its rollout has been protracted.
The Maine Gambling Control Unit Director Milton Champion said it was important to move slowly to ensure the Pine Tree State gets the regulations right. A timeline laid out by Champion suggests licenses may be issued between April 2023 and January 2024.
He further stated that he could not get into more specifics until the aftermath of a public hearing on the matter, which will take place on January 31.
Champion commented: “I know this is a hot topic. I know everybody wants it out during the Super Bowl or during March Madness. But let’s face it. It’s just not going to happen that quickly.”
The Democratic Governor Janet Mills has passed control of the mobile and online sports betting markets to Maine’s Native American Nations. These markets are estimated to account for 85% of the state’s sports betting market.
This is expected to provide a conduit of revenue to the Pine Tree State’s four Tribes: the Penobscot Nation, Passamaquoddy Tribes at Indian Township and Pleasant Point and the Houlton Band of Maliseets and Mi’kmaq.
Maine’s existing casinos in Bangor and Oxford will also be allowed to request licenses, along with off-track betting parlors.
Champion said that sports betting is expected to generate between $3.8m and $6.9m in revenue for the state, on top of revenue from casinos and other legal gambling, which made $64m in 2022.
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