SPORTS BETTING
When New Hampshire legalized sports betting at the end of 2019 following a landmark Supreme Court ruling, nearly a dozen localities opted to allow it. According to Legal Sports Report, as of February 17, 2021, nearly $300 million had been spent on online sports gambling through DraftKings, which has an exclusive contract with the state. For that exclusivity, New Hampshire retains 50% of gross gaming revenue spent on the service. So far, state coffers have brought in more than $11 million from that agreement. Official estimates, which already appear to be too conservative, suggest that it will bring in $13.5 million in taxes by 2023.
There are Mainers who would participate in and profit from this sector of the economy but for Governor Mills’ decision to veto enabling legislation in January 2020. They will instead drive across the border to New Hampshire to bet on sports, either at a retail location or on their smartphone. Maine could have welcomed millions in economic growth and state tax revenue from allowing sports betting in 2020, ideally, through an open market of sports betting platforms. Especially during difficult and uncertain economic times, state leaders should not leave a potential industry (and its subsequent tax revenue) on the table.