Maine’s Sports Betting Market Thrives, Bringing in $6 Million

Legal Sports Betting Boosts Maine's Economy with $6 Million

Legal sports betting in Maine generated $6 million in revenue in its very first year. Since going live in November 2023, the industry has grown substantially, with both in-person and mobile betting contributing to the impressive figures.

David Timulevich, operator of Oddfellahs Sportsbook and Bar in Portland, shared his excitement about the thriving business. “The crowds have been amazing,” said Timulevich. “There’s nothing like sports. Sports bring everyone together.” Oddfellahs, the state’s only in-person betting location, partners with Caesars Sportsbook to offer a unique experience for customers, complete with multiple TV screens, draft beers, and a full menu.

Despite the popularity of in-person betting, mobile betting has dominated the market. Milton Champion, Executive Director of the Maine Gambling Control Unit, emphasized the convenience of mobile betting. “If you have an account with either one of our mobile operators, you can place your wager without having to go anywhere,” Champion explained. “Mobile’s the way, and it’s proven to be that”.

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The $6 million in tax revenue generated from sports betting has provided a significant boost to Maine’s economy. However, the rise of sports betting has also raised concerns about gambling addiction.

Lori Manson, Gambling Services Coordinator for AdCare Maine, noted that while there has been a manageable increase in people seeking help for sports betting, the overall impact has been relatively smooth. “I was a little apprehensive when sports betting launched, but in the scheme of things, it’s actually been pretty smooth,” Manson said.

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About William Johnson 343 Articles
Demystifying the world of finance is my mission. As a finance news writer with 7 years of experience, I've covered everything from breaking market news to in-depth analysis of industry trends. I'm here to keep you informed and empowered in your financial journey.

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