Thoroughbred and harness racing horseplayers will have a whole new array of multiple mobile providers to choose from next year in the Pine Tree State. Great news for those who partake in Maine sports betting.
More than 27 months ago, Maine's Gambling Control Unit (MGCU) approved the license for Penn ADW LLC to be the only licensed Advance Deposit Wagering (ADW) company to accept horse wagering from Maine residents.
That all comes to an end in January 2024.
After being engrossed by both the state House and Senate on June 20, LD 731 “An Act Regarding the Licensing of Persons to Conduct Advance Deposit Wagering” was passed by emergency measure on a motion taken from the Special Appropriations Table by state Senator Peggy Rotundo (D-Androscoggin) on July 25.
The emergency measure was signed into law by Gov. Janet Mills (D) the next day.
What Happens Now?
The process to license qualified mobile horse racing wagering providers is expected to start soon and must be completed by Jan. 1, 2024. The current Penn contract runs through Dec. 31, 2023.
Penn will be grandfathered in during the new process but will not hold an exclusive contract moving forward.
For each provider to apply for the license and to start a background check will have an initial fee of $1,000. If approved and granted by the MGCU, the one-year license will be $500 with an annual renewal of $250.
It is expected that there will be 10-12 new licensees and that revenues early on will likely be four times more than revenues generated currently, which makes sense. More providers, more customers, and more options equal more revenue coming into Augusta, the state’s capital.
There are two live harness racing tracks in the state (Hollywood Casino Bangor, Scarborough Downs), both offering year-round simulcast wagering as well. In addition, there are four stand-alone Off-Track Betting (OTB) locations.
Start handicapping with a choice of many!
BetMaine.com has reviews of all the best Maine betting apps to help you discover which are best for you.
