Maine reports $38 million in January sports bets

Sports Betting

Maine is coming off its best month of revenue since sports betting was launched in November, and now the state is anticipating a boost from the biggest wagering event of the year.

With November, December and January in the books, Maine has pulled in revenue of over $1.4 million. January was the biggest month of the three, with the state earning $546,149 in revenue.

Maine keeps 10% in tax from all wagers placed on sports betting, following payouts to bettors and federal tax.

“Three months in, the initial marketing pushes have gotten the customers in and used to the app,” Silver said. “All in all, (January) was a good month for the books and the state, and it meets projections of that roughly $500,000 a month in tax revenue.”

The amounts wagered during Maine’s first three months were similar to the same three months after New Hampshire launched sports betting in 2020. New Hampshire went from a $38.9 million handle (the total amount of money wagered) in November 2020 to $43.7 million in December and $49.4 million in January 2021. Maine went from $37.6 million in November to $44.5 million in December and $38.1 million in January.