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.

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.