Football is back, and with it comes an extraordinary boost in sports betting action across the country. Maine is no different, as the state saw a ton of action and revenue in September.
The Maine Gambling Control Unit (MGCU) announced that the two sportsbooks in the Pine Tree State took in more than $51 million in handle, a 45% increase compared to August. Revenue jumped as well, going to $6.5 million from $3.5 million.
The massive jump in wagers was not evenly shared by Caesars and DraftKings, the only two operators in Maine. DraftKings reported $46 million in handle, which is a record high in the state. Since launching in January, there was previously no month with more than $39 million in wagers. DraftKings' revenue was also a new high in the state.
Caesars on the other hand saw its action drop in September, remarkable given the start of the NFL season. The $5 million in handle was roughly 9% lower than August and surprisingly a new low since launching in the state. This is also the fourth straight month of declining handle.
After voided wagers, the hold percentage by both sportsbooks came to roughly 13%, much higher than the 9.8% in August. Caesars was a big beneficiary of bettors’ bad luck, posting its highest revenue numbers despite the bleak handle.
The Maine sports betting operators in total paid more than $660,000 in taxes.
Caesars brings retail betting
In September, Caesars announced a partnership with First Tracks Investment to open Oddfellahs in downtown Portland.
“It’s great to see the momentum following our launch of mobile sports wagering in the state through our historic partnership with three of the Wabanaki Nations,” said Eric Hession, president of Caesars Digital. “With the first in-person sportsbook now operational, we look forward to collaborating with First Tracks on additional in-person opportunities in Maine.”
Oddfellahs reported $158,000 in wagers and $28,000 in revenue in the second half of September, for a 17% hold rate.
