In August, New Hampshire’s sports betting industry achieved another milestone, reporting a remarkable handle of $43.4 million. This figure represents a significant 1.6% increase from the previous month and a remarkable 19.6% surge when compared to August 2021. With DraftKings holding exclusive rights to online sports betting through the New Hampshire Lottery since November 2019, the digital platform played a dominant role in this growth.
Steady Growth in Wagers:
New Hampshire’s sportsbooks saw an impressive $43.4 million in wagers during August, indicating a consistent upward trend in betting activities. This represents a continued interest and enthusiasm from sports enthusiasts, propelling the industry to new heights.
DraftKings Leads the Way:
Of the total handle, an astounding $32.9 million in wagers were reported by DraftKings. This digital sports betting giant has been a driving force in the state’s online betting ecosystem since gaining exclusive rights through the New Hampshire Lottery. The brand’s influence and popularity have significantly contributed to the overall growth of the sports betting market in the state.
Retail Sportsbooks Remain Relevant:
While DraftKings dominates the online space, retail sportsbooks still play a vital role in New Hampshire’s betting landscape. In August, $10.5 million in wagers were placed at physical locations, demonstrating that traditional brick-and-mortar establishments continue to attract bettors.
Impressive Gross Gaming Revenue:
The gross gaming revenue from sports betting in New Hampshire for August reached an impressive $4.2 million. Out of this, $3.8 million was generated from online sports betting, highlighting the substantial impact of digital platforms on revenue generation. Retail sportsbooks contributed $386,112 to the total revenue, showcasing their continued relevance and profitability.
Tax Revenue and Fiscal Year Performance:
In terms of tax revenue, the state received $1.9 million from sports betting in August. Online sports betting accounted for $1.8 million, while retail sportsbooks contributed $173,750 to the state’s coffers. Notably, New Hampshire’s sports betting industry has delivered a commendable $8.7 million in betting revenues during the opening two months of the fiscal year. This suggests that the industry is poised for continued growth and can have a positive impact on the state’s finances.
New Hampshire’s sports betting industry has witnessed tremendous growth and success in recent times, with August reporting a record-breaking handle of $43.4 million. With DraftKings leading the online segment and retail sportsbooks still relevant, the market continues to attract sports enthusiasts and generate substantial revenue. As the state reaps the benefits through increased tax revenue, the future looks promising for New Hampshire’s sports betting landscape. The industry’s growth trajectory and favorable fiscal impact make it a model for other states looking to tap into the lucrative world of sports gambling.