Maine Sports Betting is A Few Months Away

Maine Sports Betting is A Few Months Away at the Earliest

Sports Betting Gambling

State officials released draft rules for a new Maine sports betting law. Governor Janet Mills signed it last spring that legalized sports wagering. However, it gave tribes a monopoly over online betting. The bad news is that it would take several months before players can engage in sports betting.

The Gambling Control Unit said that sports wagering could go live in April. However, it could take up to January 2024 for the regulator to finalize rules and give licenses to online and in-person sportsbook operators.

Although the gambling regulator knows people would like to be on the Super Bowl or March Madness, that would not be possible in Maine this year. According to bookie pay per head sources, Maine took a year to implement fantasy sports. Also, the rules underwent several changes and public comments.

Maine Sports Betting Launch

Maine Sports Betting is A Few Months AwayThe Gambling Control Unit hopes to have sports betting up and running in Maine during the summer. That way, people could use their smartphones to bet on sports while enjoying the state’s campsites.

According to the sports betting law, Maine will take around ten percent of the sportsbooks’ revenue. Experts believe the state could earn about $3.8 million to $6.9 million yearly through sports gambling.

The tribes will get 50 percent from online wagers. They can choose a sports betting software provider to operate the apps. Also, the operators can earn 30 percent of the revenue. Fortunately, they can request to increase their share to 40 percent.

Each tribe can pick an online sportsbook provider or agree to choose a single operator. Also, it is up to the tribes to divide the revenues among themselves. However, it is still unclear which operator they would choose. State officials wouldn’t know about it until operators apply for a license.

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