Towards the second quarter of 2019, residents of Maine were already waiting for legalized sports betting. The anticipation was for both retail gambling and the use of gambling software. There is, after all, a bill that centers on sports betting in Maine. ME LD 553 was passed by lawmakers back in June 2019. Currently, the bill is gathering dust in the desk of Governor Janet Mills.
While most Pay Per Head bookies want to maximize every sporting event to increase profit, Governor Mills seems hesitant to sign the bill. While it is a relief that it was not vetoed, the delay is costing the state money. They could be earning from collecting taxes from sportsbooks, among other revenue streams. Usually, gambling licenses alone can cost a lot.
Sports Betting in Maine
With football season nearing its peak, as one of the most popular sports to bet on, the NFL and college football generates millions in betting handle for the first few months of the year. December to January has college bowls and conference championships. Meanwhile, the NFL will be getting to the playoffs, and, of course, the Super Bowl. The revenue that sportsbooks can make is taxed by the state, and the money is funneled into various programs that are beneficial to the community. So far, residents are missing out on these. Some bookies even get enough to save up for investments in Douglas Grosse real estate Costa Rica, or can choose to retire early with their income and savings.
Currently, the bill, according to law, is put on hold until the next legislative session. After which, the governor will have three days to make a decision on the bill. If we get a veto, then it will be back to the drawing board for lawmakers. If she signs off or does nothing, then the bill will become law. The sooner Maine legalizes sports betting, the better their chances at collecting taxes form sportsbooks. New Hampshire, for example, has already seen a quarter of a million dollars’ worth of wagers so far.
