New Hampshire’s sports betting landscape has witnessed substantial growth in recent times, as reflected in the latest statistics. The New Hampshire Lottery has reported encouraging figures, with December showcasing a robust 5.2% year-on-year increase in sports wagers. Although there was a slight dip from November’s figures, the report underscores the sustained consumer interest in sports betting, both online and at retail sportsbooks.
Steadfast Consumer Engagement:
During the month of December, New Hampshire recorded a total of $90.3 million in wagers, marking a commendable 5.2% surge compared to the same period in 2021. While there was a slight 2.4% decrease from November’s sports betting handle of $93.1 million, the numbers showcase the resilient engagement of consumers in the sports betting domain. Out of the total wagers, $65.9 million were placed online, while the remaining $25 million was spent at brick-and-mortar retail sportsbooks.
Remarkable Revenue Growth:
The New Hampshire Lottery’s report indicates a remarkable growth trajectory in gross gaming revenue from sports betting. In December, gross gaming revenue amounted to $8.3 million, reflecting an impressive 219.2% year-on-year increase. This surge highlights the industry’s ability to not only rebound from challenges but to thrive and expand its financial impact. Comparatively, gross gaming revenue grew by a significant 66% from November 2022, when it stood at $5 million.
Online and Retail Contributions:
The dynamics between online and retail sports betting are evident in the revenue breakdown. Online sports betting played a substantial role, generating $7.9 million in gross gaming revenue during December. Retail sportsbooks also made noteworthy contributions, contributing $389,635 to the overall revenue. This balance between online and retail engagement underscores the diverse preferences of bettors and the inclusive nature of New Hampshire’s sports betting offerings.
Tax Generation and Long-Term Trends:
Tax revenue generated from sports wagering in December reached $3.8 million. Out of this, $3.7 million stemmed from mobile betting, while $126,927 was attributed to retail sportsbooks. The cumulative consumer spending over the course of five months, until the end of December, reached an impressive $439.6 million. Gross gaming revenue during this period amounted to $38.4 million, significantly contributing to the state’s economic landscape. The taxes generated, totaling $17.6 million, reinforce the broader impact of the sports betting sector.
Exclusive Partnership and Future Outlook:
DraftKings has held exclusive rights to offer online sports betting via the New Hampshire Lottery since 2019. This partnership has played a pivotal role in shaping the state’s sports betting landscape. Looking ahead, the report’s insights and the ongoing engagement of consumers highlight a promising trajectory for New Hampshire’s sports betting industry, with continued growth and innovation on the horizon.
New Hampshire’s sports betting sector’s recent performance is a testament to its resilience, adaptability, and consumer appeal. The upward trend in wagers, revenue, and tax generation underscore the sector’s significance in the state’s economic and entertainment landscape. As New Hampshire continues to nurture a thriving sports betting ecosystem, the collaboration between key players, the sustained engagement of consumers, and the spirit of innovation collectively shape a promising future for the industry.