The sports slate has gotten better, the NBA season started, and the NFL season is well underway, but Maine bettors don’t seem more interested.
The Maine Gambling Control Unit (MGCU) reported that the state’s two operators accepted $52.2 million in wagers last month, up a hair over September’s $51 million.
Unfortunately for the Pine Tree State, revenue came back to earth and dropped from $6.5 million to $3.8 million. October’s haul was higher than August’s $3.5 million, but it is surprising that sportsbooks are hurting during football season and only seeing incremental growth.
The tax bill came in at $385,000, well below the $660,000 from the previous month.
Good news for Caesars
Caesars had a pretty good month in October. Their $6.5 million online handle was a five-month high. DraftKings’ handle fell by nearly $1 million compared to September. Plus, Caesars’ retail location saw an 81% increase in action, hitting $287,000, and their revenue doubled.
2024 summary
DraftKings and Caesars are the only Maine sports betting operators and DraftKings is dominating the market. In October, 87% of all legal bets were made through DraftKings. When you look at last year in total, DraftKings’ share was 85% and revenue-wise it was an even higher 89%.
Caesars saw the most money in March, reporting $8.5 million in wagers. September was DraftKings’ most popular month with $46.5 million in bets.
