OLD ORCHARD BEACH — Special Olympics Maine says an estimated 400 people are expected to take part in its annual Lobster Dip fundraising ocean plunge on New Year’s Day.

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Registration is now open for the event, which takes place at noon at Old Orchard Beach.

The Lobster Dip was Maine’s original cold-water fundraiser when it began in 1988 with about 15 participants.

It’s now the largest such fundraising event in the state. Last year it raised nearly $100,000 for Special Olympics Maine’s sports training and athletic competitions serving more than 3,500 athletes with intellectual disabilities.