The sports betting industry in the United States is expected to grow significantly in the next 12 months as there are more than 10 states that are discussing the possibility of legalizing sports betting and capitalizing on this lucrative market. Maine seems to be the next one on the list.
The question for Maine legislators is not whether they should legalize sports betting but rather how they should go about the process.
Recently, Maine officials and lawmakers met with representatives of Maine’s existing casinos and gambling parlors. The meeting focused on the topic of how the state should go ahead with its sports betting plans. There are already five bills pending in the state legislature and a lot of discussion is needed so that Maine gets it right when it comes to its sports betting regulations.
There is solid support for sports betting in the state. The industry is expected to generate a significant amount of taxes for the government as well as a lot of business for the state’s gambling operators. This is why the publicity director for Scarborough Downs, Michael Sweeney, is very supportive of the move towards legal sports gambling.
Fortunately for Maine, it should be easy to set up a legal sports gambling framework. It already has the Hollywood Casino in Bangor and the Oxford Casino in Oxford, both of which are prime locations for sportsbooks. Besides the main casinos, there are other gambling locations that are managed by state officials. Adding a sports betting option to these establishments should be easy to implement.
It’s not going to be all smooth sailing though. There are those who think that sports betting is not needed despite the revenue windfall. One of the reasons for this opposition is because opponents are concerned that adding sports betting to the mix can lead to a gambling addiction epidemic. However, supporters are pointing out that the sports betting bill will address these concerns.
In a statement, Milton Champion, executive director of the state’s Gambling Control Unit said,
There is only so much discretionary funds available, in my view, indicates that New England has or is very close to reaching its saturation point. It is essential, however, that we have the ability to offer what the competition offers. And by competition, I am referring to other states.
Rhode Island will be Maine’s primary competitor since it is the only state in the New England region to legalize sports betting. As of now, Rhode Island is not getting the revenues that were predicted. However, this could be mainly because the market is still not mature.
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