Press release
Maine's betting laws for 2024: everything you need to know
Maine's betting laws are changing rapidly, with online sports betting legalized and talks of further expansion.
Any player in Maine wishing to save time and enjoy all the benefits of online betting will currently have to resort to offshore and crypto betting and sportsbooks. Offshore betting available in Maine( Refer:- https://www.techopedia.com/betting/maine/online-casinos ) has plenty of favourite games, including bingo, many variations of slots and others, according to Aneeca Younas. For those who prefer to visit land-based betting, their physical counterparts are in legal betting run by the local native Indian tribes in the state. The existing two betting places, Hollywood Betting in Bangor and Oxford Betting in Oxford, could see an addition made possible by the LD 1944 bill introduced.
As lawmakers discuss the LD 1944 and other bills, aiming to allow five more betting to be built, opposition from existing betting fears such a big and sudden increase in competition would severely hamper their operations. The two existing bettings have made more than $165 million so far in revenue, and it's safe to say the number could grow with more betting and online options, which could all benefit the state through taxes. Speaking of an increase to state taxes, the LD 2117 bill, which Milton Champion, the Maine State betting Control Unit Executive Director, directly stands behind, could change sports betting license renewal from four to a yearly basis, bringing in more year-by-year revenue from license renewals. ( Refer:- https://www.newscentermaine.com/article/news/politics/maine-politics/lawmakers-discuss-wabanaki-nations-gaming-expansion-politics-maine-sports-betting/97-7d502ffc-fdb3-4d64-8cda-5dedab429f6a )
It would not be a far stretch to say that online betting could happen soon, seeing as the four local tribes have all implemented online sports booking. Three tribes have made a deal with Caesars Sportsbook and Passamaquoddy Tribe allied with DraftKings, who all profit from 85% of online bets. Current laws target illegal operators in the state, not players, so gamblers can enjoy the freedom of choosing any offshore betting, but the state is losing out on potential revenue from taxation. These and the prosperous jobs that could come from legal online betting are the reasons for newer laws and changes in 2024 and onwards. ( https://igamingbusiness.com/sports-betting/draftkings-partners-passamaquoddy-tribe-maine-sportsbook/ )
The betting laws so far show Maine is more than capable of adjusting and allowing online activity. Fantasy sports, which operate online, began their legalization with the DFS bill in August 2017. The law allowed for games of skill to be exempt from Maine's betting laws, and parts of this law could be applied to online betting, as some betting games are based on player skills. The law also dictates the minimum age for playing (18 years of age), licensing fees, and company taxation brackets. With lotteries and bingos being allowed in the Pine Tree State, it seems 2024 could be the year when online betting will be ticked off the list and Maine could join the other six states who've fully legalized it.
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