New Hampshire’s sports betting landscape witnessed a robust recovery in October 2023, with a total handle of $77.8 million. While this figure reflects a 14.8% decline from October 2022’s $91.3 million, it marks a substantial 16.5% increase from the preceding month, showcasing resilience and renewed enthusiasm among sports bettors. Notably, this October figure stands as the highest monthly spend since the record-breaking $103.4 million in March 2023.
Mobile Dominance and Retail Contribution:
Breaking down the betting activity, a significant portion of the wagers, amounting to $65.9 million, was placed through mobile platforms, underlining the continuing dominance of mobile sports betting in the state. Retail sportsbooks contributed $12 million to the overall handle, emphasizing the complementary role of brick-and-mortar establishments in the New Hampshire betting landscape.
DraftKings Performance Overview:
As the sole sports betting provider in the state, DraftKings reported a 16.46% increase in wagering activity compared to September. However, this marked a drop of 14.78% from October 2022. Despite the decline in handle, DraftKings reported revenue of $8.8 million, reflecting a 3.3% decrease from October 2022 but a significant 41.9% surge compared to September 2023. This revenue figure represents the highest monthly total since January’s record of $12.6 million.
Distribution of Revenue:
Online betting remained a powerhouse for DraftKings, contributing $8.4 million to the total revenue, while retail sportsbooks added $334,433. The detailed revenue breakdown underscores the continued significance of online wagering in driving revenue growth for the provider.
Tax Contributions and Overall Trends:
DraftKings reported a total tax contribution of $3.8 million for October, with $3.7 million coming from online betting and $144,756 from retail operations. Examining the broader trends, the four-month period ending September 30 saw $193.2 million wagered online and $27.1 million at retail sportsbooks. Revenue for the same period amounted to $21.8 million, with online wagering contributing $20.2 million and retail operations contributing $1.6 million.
New Hampshire’s sports betting market showcased resilience and positive momentum in October 2023, with a notable rebound in the total handle. Despite facing a year-on-year decline, the robust performance compared to the previous month, coupled with DraftKings’ impressive revenue figures, highlights the dynamic and evolving nature of the state’s betting landscape. The dominance of mobile platforms, coupled with encouraging revenue trends, positions New Hampshire as a noteworthy player in the ongoing narrative of the expanding U.S. sports betting market. As the industry continues to evolve, these figures offer insights into the preferences and behaviors of sports bettors, providing valuable information for stakeholders and enthusiasts alike.