In December 2023, New Hampshire’s sports betting industry underwent notable shifts, marked by a 13.3% decrease in the handle compared to the previous year.
Handle Analysis:
The sports betting handle in New Hampshire for December 2023 stood at $78.8 million, registering a 13.3% decline from December 2022. Despite this dip, there was a marginal 0.4% increase from November 2023, indicating a potential stabilization in the market. The breakdown of wagers revealed that $67 million was placed online, while $11.7 million was attributed to retail sportsbooks.
Gross Gaming Revenue (GGR) Overview:
The gross gaming revenue in December 2023 reached $7.7 million, showcasing a 7.2% decrease compared to the same month in 2022. On a monthly scale, GGR declined by 6.1% from November 2023. A closer examination reveals that online sports betting contributed significantly, accounting for $6.7 million, with the remaining $972,039 generated from retail wagering. Notably, DraftKings retained exclusive rights for all online bets in the state.
Revenue Distribution and Tax Collection:
The state of New Hampshire collected a total of $3.4 million from sports betting activities in December 2023. Of this, $2.9 million was generated from online wagering, highlighting the increasing prominence of digital platforms. Additionally, $437,417 stemmed from retail sportsbooks, underscoring the ongoing relevance of brick-and-mortar establishments in the industry.
Impact on New Hampshire Lottery:
Amidst the fluctuations in the sports betting sector, the New Hampshire Lottery reported a remarkable achievement, with sales reaching a record $603 million in the last fiscal year. This represented a notable 12% increase from the previous high of $536.5 million in 2022. Equally noteworthy is the lottery’s contribution to public education in New Hampshire, generating a record $187 million—a remarkable surge of 27%.
The dynamics of New Hampshire’s sports betting landscape in December 2023 showcase a nuanced interplay of handle fluctuations, revenue patterns, and the broader impact on the state’s lottery contributions. As the industry evolves, understanding these trends becomes imperative for stakeholders and enthusiasts alike, offering insights into the market’s trajectory and potential areas for growth.