Home / Sports Betting / In May, sports betting revenue dipped in Maine despite an increase in their handle In May, sports betting revenue dipped in Maine despite an increase in their handle Written by Sports EditorZach Wolpin Updated –Jun 7, 2024 We publish independently audited content meeting strict editorial standards. Ads on our site are served by Google AdSense and are not controlled or influenced by our editorial team. In Maine, their adjusted gross receipts are calculated by subtracting voided and canceled bets, federal excise taxes, and player winnings from their handle. Last month, sports betting revenue dipped 19.5% month-over-month. That’s despite Maine reporting an increase in their betting handle. Their adjusted gross receipts in May amounted to $3.3 million. In April 2024, Maine posted $4.1 million. Maine’s total betting handle for May 2024 was $39.9 million. Additionally, total wagers were up 4.2% month-on-month from $38.3 million in April. During May, consumers won a total of $36.3 million while Maine collected $331,729 in tax. DraftKings is the #1 sportsbook in Maine While only two sportsbooks are legally allowed to operate in Maine, DraftKings is the clear #1. Caesars is also in the market. Since DraftKings opened in November 2023, they’ve been the industry leader in Maine. In May 2024, DraftKings posted $2.9 million in adjusted gross receipts from $33.1 million in bets. The sportsbook is partnered with the Passamaquoddy tribe in Maine. Caesars Sportsbook had $427,718 in adjusted gross receipts last month from $6.1 million in wagers. They work with three Wabanaki nations. the Houlton band of Maliseet Indians, the Mi’kmaq nation, and the Penobscot nation. In Maine, their year-to-date adjusted gross receipts are $19.9 million. Draftings attribute $17.8 million of that. Over the last five months, the state has accepted $197.7 million in wagers. Written by Sports EditorZach Wolpin Zach Wolpin is an NBA and NFL expert who's been betting on the league for over three years now. Wolpin is a fan of the NFL and NBA and has been watching for a decade and a half. He covers the latest news and stories surrounding the league daily. His passion in life is sports and being able to share that through his writing. He has written about the NBA and other sports leagues through various media outlets over the years like Sir Charles In Charge, G-Men HQ, and TAP into South Plainfield. Before he became a Sports Editor, Wolpin attended Montclair State University where he graduated in 2021. He studied Sports Media and Writing while in school. All posts by Zach Wolpin
NASCAR Cup Series AutoTrader EchoPark Automotive 400 Odds, Predictions & Best Bets At Dover Motor Speedway Jeff Hawkins, 2H #NASCAR
#MLB Red Sox Trade Rumors: 5 Starting Pitchers That Could Help Boston Take Control of AL Wild Card Race Colin Lynch, 2H #MLB
#Sports Joy Taylor Next Move: ESPN, OnlyFans, or Playboy? Betting Odds Released David Evans, 2H #Sports