The Maine Gambling Control Unit published the November sports betting numbers from the state's three sports wagering operators. These operators generated a combined sports betting handle of around $51.9 million, a slight month-on-month drop from $52.3 million in October.
| Operator | Betting Handle |
| First Track Investments LLC | $472,840 |
| Passamaquoddy Tribe | $44.6 million |
| Penobscot, Maliseet, and Micmac Tribes | $6.7 million |
| Total | $51.9 million |
However, revenues climbed significantly, jumping up by more than 108% month-on-month to over $8 million from $3.8 million.
Maine overcomes nationwide October slump
October was a tricky month for sports betting revenues across the U.S. Despite several states collecting record-breaking handles or seeing handle growth, sports betting holds dropped in most states. For example, New York posted a record sports betting handle, but its revenues dropped significantly month-on-month and year-on-year.
Only one state out of 30 reporting October numbers produced a double-digit revenue hold, and half of these jurisdictions reported a hold below 7%.
Maine experienced the same struggle, with revenues falling to only $3.8 million despite hitting its highest sports betting handle of 2024. Many experts suggested bettor-friendly results in October resulted in the low revenues, especially in the NFL. Caesars Entertainment CEO Tom Reeg and DraftKings CEO Jason Robins highlighted two weeks in the middle of October as the most damaging to sportsbook revenues.
| Operator | Adjusted Gross Receipts |
| First Track Investments LLC | $99,309 |
| Passamaquoddy Tribe | $7 million |
| Penobscot, Maliseet, and Micmac Tribes | $826,738 |
| Total | $8 million |
However, November revenues bounced back, with all three sports betting operators posting significant month-on-month growth. First Track Investments LLC generated almost 67%. First Investments LLC operates the Oddfellahs retail sportsbook, which uses Caesars Sportsbook technology to provide local players with sports betting options.
Meanwhile, the Penobscot, Maliseet, and Micmac Tribes increased revenues by over 112.4%. The Passamaquoddy Tribe generated the most significant betting handle and revenues in Maine and grew monthly holds by over 108.5%.
Maine not the only Caesars location to launch
Caesars Sportsbook opened in Maine in September, giving the state its first Vegas-style retail book. However, it’s not the only significant retail deal the company agreed to in 2024. Caesars announced that Caesars Virginia, its land-based casino, will open on Dec. 12, bringing more than 1,500 slot machines and 100 table games to local residents.
The company also agreed to a deal with the DC Lottery to operate retail sports betting kiosks across the District.
