In November 2023, New Hampshire’s sports betting landscape witnessed a significant uptick, with the monthly handle reaching $78.5 million. While this reflects a 15.7% decrease compared to the same month in 2022, it marks a notable 2% increase from October 2023, positioning it as the highest monthly total in eight months. The resilience of the state’s sports betting market, coupled with substantial online participation, underscores its enduring appeal and strategic growth.
Monthly Handle Performance:
The sports betting handle for November 2023 reached $78.5 million, displaying a 15.7% decline from November 2022 ($93.1 million).
Despite the year-on-year dip, the November figure represents a robust 2% increase from October 2023, signaling renewed momentum in the state’s sports wagering activity.
Distribution of Wagers:
Of the total wagered, $67.9 million was attributed to online sports betting platforms, emphasizing the continued prominence of digital wagering channels.
Retail sportsbooks contributed $10.6 million to the overall handle, showcasing a diversified betting landscape in the state.
Gross Gaming Revenue:
Gross gaming revenue for November 2023 amounted to $8.2 million, marking a substantial 64% increase from the same period in 2022.
Despite the yearly revenue surge, it represents a 5.8% decrease from October 2023’s robust revenue of $8.7 million.
Online vs. Retail Revenue:
Online sports betting emerged as a major revenue driver, contributing $6.6 million to the overall gross gaming revenue.
Retail betting establishments generated $1.6 million, reinforcing the coexistence of both online and retail components in New Hampshire’s sports betting ecosystem.
Tax Contributions:
The state received $3.6 million in tax revenue, with online betting tax contributing $2.9 million and retail wagering contributing $711,830.
Tax revenues contribute to vital public services and initiatives, further emphasizing the positive impact of sports betting on the state’s fiscal health.
Record Sales for New Hampshire Lottery:
In August, the New Hampshire Lottery reported record-breaking sales of $603 million for its last fiscal year, reflecting a 12% increase from the previous high of $536.5 million in 2022. This surge in lottery sales translated to a record $187 million in support of New Hampshire public education, marking a substantial 27% increase.
Despite a year-on-year dip in the sports betting handle, New Hampshire’s November 2023 figures underscore the resilience and growth potential of the state’s sports wagering market. The surge in gross gaming revenue, particularly from online channels, coupled with record lottery sales, positions New Hampshire as a dynamic player in the evolving landscape of legal sports betting. The state’s commitment to education and public welfare through gaming revenues further solidifies its strategic approach to harnessing the economic benefits of the gaming industry.