Revised Regulations Could Bring Sports Betting to Maine as Early as Mid-November

Sports activities Betting to Go Dwell in Maine on November third After Months of Ready —

After months of ready, the residents of Maine are lastly set to have the ability to begin putting wagers on sports activities by the tip of the week.

Earlier this week, the state’s Division of Public Security introduced that the native lawmakers have formally adopted the foundations for sports activities betting and the brand new type of playing is scheduled to go reside at 9:00 AM on November third. Beginning as we speak, suppliers and suppliers of administration companies will be capable of begin pre-launch promoting to just accept registrations forward of Friday’s launch.

Roughly 15 months can have handed from the second when Maine lawmakers made sports activities betting authorized to the second the brand new type of playing goes reside on Friday.

On Could 2nd final yr, Governor Janet Mills signed a invoice into legislation that formally allowed authorized sports activities betting, a transfer that gives the state’s Indigenous tribes with unique rights to the profitable on-line betting market. It took solely 90 days for sports activities betting to grow to be legislation in Maine.

Then, in January 2023, the state’s playing and betting regulator – the Maine Playing Management Unit – printed detailed guidelines for working sports activities betting companies. The general public was given the possibility to supply suggestions on these guidelines, which had been then revised by the regulator and despatched to the workplace of the state Lawyer Common for evaluation in July 2023.

Maine to Be a part of Greater than 30 US States Providing Authorized Sports activities Betting Companies

Now, with sports activities betting set to go reside in Maine, Vermont will grow to be the one New England state the place authorized sports activities betting companies will not be accessible.

The launch of the brand new type of playing has been an eagerly anticipated occasion by Maine residents who’ve been compelled to journey elsewhere to put wagers. In line with market consultants, similar to Oklahoma State College professor John Holden, the prolonged wait helped make sure that the state would have a easy operation of sports activities betting at a later stage. Professor Holden shared that Maine adopted a extra cautious strategy to the implementation of sports activities betting and that helped it not take stress from the trade or observe different states’ swimsuit on the best way to transfer ahead with the method.

On November third, Maine is about to hitch greater than 30 US states which have already made sports activities betting authorized and launched the brand new type of playing because the 2018 US Supreme Courtroom ruling that without end modified the nation’s playing market.

Final yr, the manager director of Maine’s Playing Management Unit, Milt Champion, estimated the sports activities betting’s total income is about to deliver between $3.6 million and $6 million yearly in taxes to the state but additionally famous that the financial enhance related to the implementation of the brand new type of playing in Maine might be smaller. He shared that it might most likely be lower than the playing trade would love many individuals to consider and reminded that sports activities betting is historically a low-margin product.

Author: Donald Price