Maine Governor Signs Bill Legalizing Sports Betting

Maine Governor Signs Bill Legalizing Sports Betting

After months of tedious deliberation, Maine sports betting will finally arrive in the Pine Tree State.

On Tuesday, Gov. Janet Mills signed the bill to allow retail and online sports betting effective 90 days after the legislative session ends. 

Since the 2022 session ended April 25, betting could start in late July or early August.

Legal Maine sports betting details

Sports betting revenue will be taxed at 10%. However, the tax is not levied on gross revenue. Operators can deduct promotions as well as federal excise tax payments. 

Other details include:

4yr mobile license = $200,000
4yr retail license = $4,000

With the addition of online gambling, residents of Maine no longer have to cross the border into New Hampshire to gamble. This leaves Vermont and Massachusetts as the only states in the northeast without any form of sports betting. 

Who can operate sports betting in Maine?

The bill, LD 585, hands exclusive rights to online wagering to the state’s three federally recognized tribes. 

Those tribes are:

Penobscot
Passamaquoddy
Maliseet

In a statement, Mills had this to say:

“This law provides meaningful economic opportunities for the Wabanaki Nations. It incentivizes investment in Tribal communities, and it formalizes a collaboration process on policy that sets the foundation for a stronger relationship in the future.”

The bill allows each tribe to either build its own sports betting software or partner with an existing operator like DraftKings, FanDuel, or other legal US sportsbooks. There are also 10 retail licenses for casinos, horse tracks and off-track betting facilities. 

Previous developments in Maine

Lobbyists representing casinos in Maine argued the bill was unfair to cut the casinos out of mobile betting. The two casinos in the state are Hollywood Casino Hotel and Raceway (Penn National Gaming) and Oxford Casino (Churchill Downs).

In March, Milton Champion, executive director of the Maine Gambling Control Unit, estimated that 85% of bets would come via mobile platforms. 

Despite mobile wagering, both Penn National and Churchill Downs have established strong enough brands to make retail betting a success.

Author: Tyler Gutierrez