New Hampshire Sports Betting Hits New Heights

Sports betting in New Hampshire has experienced significant growth in recent months, reaching its highest level of consumer spending in seven months in October. With a handle of $77.8 million, October marked the largest monthly spend in the state since March 2023. This surge in spending can be attributed to the popularity of mobile betting, with $65.9 million being bet online. In contrast, $12.0 million was wagered at retail sportsbooks located across New Hampshire.

As the exclusive operator offering online sports wagering in New Hampshire, DraftKings has established a dominant position in the market. Since securing exclusive rights for the state in November 2019, DraftKings has seen consistent success in the region, contributing to the overall growth of the industry.

Despite a slight decrease in handle compared to October 2022, October 2023 saw a substantial increase in revenue. Gross gaming revenue for the month reached $8.8 million, a 41.9% increase from September’s $6.2 million. Online betting accounted for the majority of revenue, generating $8.4 million, while retail wagering only contributed $334,433.

The growth of the sports betting industry in New Hampshire has also had a positive impact on tax revenue. In October alone, tax contributions amounted to $3.8 million, with $3.7 million coming from online wagering and $144,756 from retail sportsbooks.

Looking at the year-to-date performance, New Hampshire has seen a total handle of $220.4 million for the four months leading up to September. Of this amount, $193.2 million was bet online, while $27.1 million was wagered at retail sportsbooks. Revenue for the same period reached $21.8 million, with online wagering contributing $20.2 million and retail betting adding $1.6 million.

Tax revenue for the year-to-date period amounted to $9.5 million, with online wagering generating $8.8 million and retail betting contributing $720,415.

With the ongoing success and growth of the sports betting industry in New Hampshire, it is clear that the state has embraced this form of entertainment. The convenience of mobile betting has been a significant factor in attracting consumers, and the exclusive partnership with DraftKings has solidified their position as a market leader.

As the industry continues to evolve, it will be interesting to see if additional operators enter the market and further fuel its growth. The tax revenue generated from sports betting has proven to be a valuable source of income for the state, supporting various initiatives and programs. With the positive trajectory of the industry, it is likely that sports betting will continue to thrive in New Hampshire for years to come.