New Hampshire’s sports betting industry continued its impressive growth trajectory in March, with a record-breaking handle of $103.4 million. This significant increase, up 31.2% from March 2022, showcases the state’s thriving sports betting market.
March 2023: A Month of Milestones
March 2023 proved to be a month of milestones for New Hampshire’s sports betting industry. The $103.4 million handle marked a remarkable 31.2% year-on-year growth, surpassing the previous monthly high set in January 2022 by 3.9%.
Of the total wagers placed, a substantial $93.4 million was generated from online sports betting platforms, highlighting the increasing popularity of digital wagering. Meanwhile, retail sportsbooks contributed $10 million to the overall handle.
Positive Growth in Gross Gaming Revenue
The New Hampshire Lottery reported gross gaming revenue of $4.8 million from sports betting in March, a noteworthy 92% increase compared to the same month the previous year. However, this figure represents a slight dip of 32.4% from the $7.1 million reported in February 2023.
Breaking down the revenue sources, online sports betting accounted for $2.8 million, while retail sportsbooks contributed $2.1 million. This revenue growth reflects the strong appetite for sports betting in the state.
Tax Revenues and Fiscal Year Overview
March’s sports wagering activities contributed significantly to the state’s coffers, generating $2.1 million in tax revenue. When looking at the state’s financial year to date, spanning nine months up to the end of March, the total handle reached an impressive $727.1 million. Gross gaming revenue amounted to $62.9 million, with tax collections reaching $28.8 million.
DraftKings’ Prominent Role
DraftKings has played a pivotal role in New Hampshire’s sports betting landscape, holding exclusive rights to offer online sports betting via the New Hampshire Lottery since 2019. The partnership with DraftKings has undoubtedly contributed to the state’s robust sports betting performance and its ability to continually set new records.
As New Hampshire’s sports betting industry continues to flourish, it reinforces the state’s position as a significant player in the ever-expanding US sports betting market. The record-breaking handle in March serves as a testament to the increasing popularity and success of sports betting in the Granite State.