I have said it for years. The money just isnt there. I suspect most states will lose money when all is said and done.
Maine 'passed' it but the Gov didnt sign it. Very bad wording and a lot of loopholes and missing shit.
In a state like Maine the volume will be pathetic. SO whats the tax revenue going to be? I ahve said it over and over and over again/ Sports betting is highly over rated and people throwing around how many billions are bet on what sporting event show their ignorance. You cant tax on volume only 'winnings'/holds. So even if books could hold 10% (which isnt likely at all, its probably around 5.5% average in Vegas even with parlay cards). But they run stories about 'making 300 million' last year(2018). Actually this answers all those points...
https://www.usbets.com/nevada-2018-sports-betting-revenue/
So say a state that doesnt know what its doing and is holding 5% what tax revenue on that? Even if they try and tax at 40%? Its around 2 million for every 100 million held. How many salaries is that? And what guy with any business sense at all is going to open a book when they know theyre going ot pay 40% tax? Mush easier to open a pot store. I suspect that every state that has legalized sports betting also legalized weed.
I do know a couple companies including Draftkings have put in for licenses here, Maine law would have also allowed for online betting which I suppose could open it up to some national based guys who would I am sure negotiate tax issues. But its been put on hold until at least next year.