New Hampshire’s sports betting market continues to demonstrate its vitality and growth potential, with November marking a notable milestone. The state recorded a substantial monthly sports betting handle of $93.1 million, representing the highest figure in an 11-month period. This remarkable achievement signifies a remarkable 12% increase compared to November 2021, reflecting the escalating momentum of the market.
Monthly Handle and Online Dominance:
New Hampshire’s sports betting enthusiasts demonstrated their engagement through a collective wager of $93.1 million in November. Impressively, a significant portion of this activity occurred in the online realm, with online bets accounting for $69.1 million. Additionally, retail sportsbooks contributed to the vibrant landscape, with $24 million in wagers placed at physical locations.
Gross Gaming Revenue and Tax Generation:
The sports betting market yielded a gross gaming revenue of $5 million during the reported period. While this figure represents a decrease of 19.4% from November 2021, it reflects the dynamic nature of the industry. Furthermore, comparing the results to October 2022, there is a notable decline of 45.1% from the $9.1 million revenue generated. Tax generation from sports betting reached $2.2 million, with the online segment contributing $2.4 million, while the retail sector experienced a slight decline with a negative figure of $215,279, attributed to a monthly loss.
Four-Month Overview and Economic Impact:
Cumulatively, consumer spending over the four months leading to November reached an impressive $348.7 million. This spending translated into a gross gaming revenue of $30.1 million, underscoring the market’s robust performance. The generated tax revenue of $14 million further contributes to the economic landscape, aligning with the state’s strategic goals.
New Hampshire’s sports betting industry has showcased its resilience and potential by achieving a remarkable monthly handle of $93.1 million in November. This achievement underscores the increasing enthusiasm and participation of bettors, both online and in retail establishments. Despite fluctuations in gross gaming revenue, the positive economic impact through tax generation and consumer spending highlights the industry’s contribution to the state’s fiscal well-being. As New Hampshire’s sports betting market continues to evolve, it solidifies its place as a significant player in the broader landscape of sports wagering, promising a future of growth and innovation.