Why does Maine’s sports betting tax money go?

PORTLAND (WGME) — It’s been about a year since sports wagering went live in Maine, allowing Mainers to place bets with the push of a button. And the state cashes in on 10 percent of that gambling revenue.

Kathy asked the CBS13 I-Team:

“I saw your recent segment about where the gambling money goes from the Oxford Casino. How about sports betting? I saw a new in-person sports wagering bar opened in Portland. Does that money go to education too?

The answer is no. It does not go to education.

Maine tribes currently operate online sports betting and there’s one in-person bar in Portland.

They must send 10 percent of their gross adjusted receipts, or revenue, to the state. That’s the difference between the total amount of money wagered and the winnings paid out.

According to the Maine Gambling Control Unit, the largest portion, 6.5 percent, is deposited into the state’s General Fund.

One percent goes to the administrative expenses of the Gambling Control Unit. One percent to the Gambling Addiction Prevention and Treatment Fund.

And smaller portions are divided among the state harness racing commission, the Sire Stakes Fund, and a fund to promote agricultural fairs.

Since sports betting launched last November, more than $500 million has been wagered.

It generated more than $5.2 million in taxes for the state.

No surprise, the amounts wagered have peaked this fall during the NFL season.

It’s clear sports betting has become extremely popular in Maine.

If you or someone you know is struggling with gambling addiction, you can contact the state’s help line at 2-1-1.

Have a question for CBS13 I-Team? Call their tip line at (207) 228-7713 or send an email to tips@wgme.com.