DraftKings and Caesars among big names

Maine generates over $12 million in wagers within two weeks of mobile sports betting launch

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Within a fortnight into launching online sports betting in Maine, the state’s Gambling Control Unit has reported that it generated $12 million in wagers, from the time sports betting was launched in the state until November 16th.

The regulator noted that the betting activity has brought almost $279,000 in revenues to the state of Maine. The state law imposes a 10% tax on adjusted gross gaming revenue, which requires gambling companies to pay the gambling tax after deducting player payouts and federal fees.

Maine’s four tribes have exclusive rights to online sports betting under the state law that went into effect in May 2022. While the Maliseet, Mi’kmaq, and Penobscot tribes have a deal with Caesars Sportsbook, DraftKings has an agreement with the Passamaquoddy Tribe.

Since November 3rd, DraftKings has brought in $10,693,221.82 in wagers and paid out $8,559,980.38 in winnings. Further, the operator has raked in $207,311.30 in tax revenue.

American Wagering, which owns the Caesars Sportsbook brand, has taken in $1,434,816.37 in wagers and paid out $1,167,319.99 back to players. The Gambling Control Unit said it has collected $25,906.80 in taxes from American Wagering.

Genius Sports, a major player in the sports data and technology sector, has also secured a temporary gaming license from the MGCU.

Additionally, Maine also allows gambling at its two casinos and five off-track gambling sites.

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