In August, New Hampshire’s sports betting market displayed both stability and growth, with a total handle of $38.8 million. While this figure represents a 10.6% decline compared to the same period last year, it also reflects a promising 5.2% increase from July 2023, when the handle stood at $36.9 million. Online betting, primarily driven by DraftKings, accounted for $34.8 million, while retail sportsbooks contributed $4 million to the state’s sports wagering activity.
Revenue Insights:
Despite a decline in the handle, the revenue figures for August demonstrate the resilience of New Hampshire’s sports betting market. The total revenue generated was $3.4 million, representing a year-on-year decrease of 19.1% from the $4.2 million reported in August 2022. However, when compared to the preceding month, revenue was only down by 2.9%. Online betting was the primary revenue driver, contributing $3.1 million, while retail sportsbooks added $270,235 to the total.
Tax Collection:
The state collected $1.5 million in sports betting tax revenue during August. This income contributes to New Hampshire’s public funding, supporting various educational initiatives within the state. DraftKings has held exclusive rights to offer online sports betting through the New Hampshire Lottery since 2019, making it a significant contributor to the state’s revenue.
Record Lottery Performance:
In addition to the sports betting success, the New Hampshire Lottery reported record-breaking sales for the last fiscal year, totaling $603 million. This figure represents a notable 12% increase from the previous high of $536.5 million in 2022. The lottery’s contribution to New Hampshire’s public education also reached a record high of $187 million, marking a remarkable 27% surge.
Historical Contributions:
Since its establishment in 1964, the New Hampshire Lottery has channeled over $2.64 billion into public education, benefiting students, teachers, and schools across the state. Nearly all of the New Hampshire Lottery’s games outperformed last year’s sales figures, with Mega Millions sales surging by nearly 104% and Powerball sales experiencing a 19% increase.
While New Hampshire’s sports betting handle experienced a year-on-year decline in August, the market remains robust, with promising growth compared to the previous month. The state’s revenue and tax collection from sports betting, along with the record-breaking performance of the New Hampshire Lottery, underscore the positive economic impact of these activities on public education and the overall financial well-being of the state.