Maine’s sportsbooks accepted over $50 million in bets in January, but DraftKings is the book of choice by a wide margin in the Pine Tree State.
Two Horse Town
Maine’s legislators believe that less is more regarding sportsbook licenses in the state. Currently, only two sportsbooks, Caesars and DraftKings, operate in the Pine Tree State, but the latter reported $43.8 million of the $50.7 million in wagers accepted in January. That equates to a staggering 86% of the market, even including the $449,000 in accepted wagers at Caesars’ retail location in Portland added to its total handle.
As for revenue, the Maine Gambling Control Unit (MGCU) revealed DraftKings posted revenue of $6.3 million, Caesars mobile site generated $636,000 in profits for January, while its retail location delivered only 10,000 for the month. January’s revenue for Maine’s sportsbooks totaled $6.9 million, of which $698,000 went to the state per its 10% tax rate.
Although January’s handle dipped slightly from December’s $52.7 million, the hold (win rate) was significantly higher, which led to a 56.5% increase in revenues from $3.9 million in the previous month to $6.9 million in revenues generated in January.
Maine’s Only Retail Sportsbook Back in Business
Oddfellahs Sportsbook and Bar, located at 55 Market Street in Portland, opened its retail sportsbook in September 2024, 10 months after mobile sports betting launched in Maine. It is the state’s only sportsbook, and it is run by Caesars.
Portland Mayor Mark Dion said, “I think this adds a certain new dimension to coming into the Old Port. I hope it attracts sports enthusiasts who want to fully participate in supporting their team. It stimulates participation in the Old Port district. They’re going to come in here, they make their wager, they’ll consume beverages, they’ll go on to other restaurants, and have a full evening.”
“This is a great opportunity to bring people into that (betting) ecosystem and hopefully encourage more responsible gaming from a social aspect rather than necessarily doing it from their homes and couches,” Oddfellahs’ owner Michael Cianchette said. “It offers a sports bar in Portland, which is always a great venue for people to go and enjoy the camaraderie that comes with watching a game.”
However, in January all those good vibrations were suddenly silenced when the state’s gambling control unit temporarily revoked the sports bar of its license. The reasoning was that the temporary license pertained only to its parent company, which is a racetrack in the state but one currently without a retail sportsbook.
State of Confusion
The question that needs to be answered is why the license was extended to the sports bar in September but it no longer applies in January. “We didn’t break a rule; we didn’t do anything wrong. It was nothing to do with our operations. It was just that the state changed its mind,” said Cianchette.
“If they never gave us the license in the first place, I’m not sure I would agree with them, but I would understand where they were coming from,” Cianchette added. “But they gave us the license five months ago, and nothing has changed.”
However, the Friday before the Super Bowl, a state judge ruled in favor of Oddfellahs, allowing them to continue taking bets just in time for the biggest single sporting event of the year. “We are incredibly excited for this weekend. We are Maine’s only retail sportsbook, and being able to show a great game, having a good crowd, a fun environment, cold beer, good food, and hopefully what is a great game is going to mean a lot, and hopefully starts a round of other success,” Cianchette said. “We have bigger plans and more yet to come.”
