Lawful mobile sportsbooks formally introduced in Maine at 9 a.m. Friday when Caesars Sportsbook and DraftKings started accepting wagers. The two operators are the only legal athletics betting apps readily available to bettors in Maine.
Maine residents will sooner or later be in a position to put in-particular person sporting activities wagers at the state’s two retail casinos and at off-track betting facilities, but a timeline for when these amenities will acknowledge wagers has nevertheless to be identified. Retail partnerships have also nevertheless to be announced.
DraftKings partnered with the Passamaquoddy Tribe to be one of the state’s two electronic platforms, when Caesars Sportsbook announced in Could its partnership with three of the 4 Wabanaki Country tribes.
Comparison to regional friends
A single of the 10 minimum populated states in the region, Maine isn’t predicted to make a significant affect on the U.S. sporting activities betting sector, but DraftKings and Caesars Sportsbook are happy to extend their national reach.
Maine, we’re dwell and accepting cell wagers in your good Pine Tree Point out!
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— Caesars Sportsbook & Casino (@CaesarsSports) November 3, 2023
“We are extremely enthusiastic to be a person of only two operators predicted to operate OSB in Maine,” DraftKings wrote in a letter to shareholders. “As a consequence, we have integrated in our revised assistance our anticipated OSB launch in Maine and the corresponding expense of $10 million that will impression Modified EBITDA in the fourth quarter of 2023. Our robust performance will allow us to take in this incremental financial commitment and even now strengthen our implied Altered EBITDA steerage for the fourth quarter of 2023.”
Boston-primarily based DraftKings has a powerful existence in New England, including as the sole operator in New Hampshire and 1 of just two operators (FanDuel is the other) in Connecticut. DraftKings claimed a mobile wagering handle of $622 million in 2022 in Connecticut, with gross gaming income of $62 million. In New Hampshire in 2022, DraftKings claimed a handle of $891.7 million and revenue of $66.7 million.
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Each New Hampshire and Connecticut have bigger populations than Maine, with Connecticut extra than doubling Maine’s size. Estimates counsel that with its 10% tax fee, Maine may well get amongst $4-6 million annually in tax profits from cellular sports activities betting.
Fifth to launch electronic in 2023
Maine will become the fifth U.S. condition or jurisdiction to enable the start of authorized cell athletics betting apps in 2023. Ohio permitted for cellular sportsbooks to start on Jan. 1, whilst cellular operators went stay in Massachusetts in March. Cell sportsbooks launched in Puerto Rico in June and in Kentucky in late September.
Lawful cell sportsbooks are also envisioned to go reside in Vermont by the finish of 2023.
North Carolina legalized cellular sports activities betting this 12 months, but mobile operators won’t go live in the condition until eventually the to start with half of 2024. An official projected start date in North Carolina has but to be declared, but laws involves the state’s cell market place to be up and jogging by mid-June 2024.
