In the latest news from the best Bookie Pay Per Head Blog, we are bringing you the latest updates on sports betting in Maine. And today, November 3, is the first official day that online sports betting in Maine is allowed. Given how popular online wagering is, it will come as little to no surprise that allowing online sportsbooks will be the fastest way to generate more income for the local industry, as well as for the state’s coffers.
According to the law, online sports betting operators have to partner with four federally recognized Native American tribes. There are a few operators with agreements in place, but some operators are delaying their application, citing the many changes in sports betting regulations in the state. But since sportsbooks go live today, the regulations are, more or less, set in stone.
Online Sports Betting in Maine Launches- Finally
Sports betting enters the state after Governor Janet Mills signed LD 585 into law back in 2022. The law allows for online sports betting through the state’s tribes. But the law also allows for retail betting at land-based casinos as well as off-track betting facilities. This means that somewhere down the line, we will start seeing betting activities in brick-and-mortar sportsbooks as well.
The law allows for betting on professional college, and amateur sports. There is an exemption on betting on colleges and universities from Maine, though. If they will offer a catalog as comprehensive as that of the best pay per head services, then the state stands to earn a lot from taxes. Estimates are at $3.8-6.9 million in annual sports betting revenue.
And looking at projections from experts in the industry, they estimate that 85% of all wagers in the state may come in from online sportsbooks. So if you want to own a sportsbook, or make use of a sportsbook pay per head for agents, then now is the time to do so, as more and more competition is emerging due to the popularity of sports betting.