In September, New Hampshire’s sportsbooks recorded a remarkable revenue of $7.4 million, signaling a substantial growth in the state’s sports betting industry. With a surge of 14.8% in wagers compared to the same period in 2021 and an impressive 80.2% increase from the previous month, the state saw a total of $78 million in wagers. The majority of wagers, amounting to $58.5 million, were placed online, while $19.8 million was spent in-person at retail sportsbooks. This growth is largely attributed to the exclusive partnership with DraftKings, granting them rights to offer online sports betting through the New Hampshire Lottery since November 2019.
Month-on-Month Growth:
September witnessed a remarkable surge in gross gaming revenue from sports betting, reaching $7.4 million. This represented a substantial 68.2% increase compared to the same month the previous year and an impressive 76.2% rise from August 2023, where revenue stood at $4.2 million. This latest figure is the highest monthly revenue recorded since January 2022, marking a significant milestone for the sports betting industry in the state.
Online vs. Retail Performance:
Online sports betting has been the driving force behind New Hampshire’s impressive revenue figures. In September, online sports betting generated a staggering $7.7 million, demonstrating its dominance in the market. On the other hand, retail sportsbooks faced a modest loss of $374,088 during the same period. This discrepancy highlights the shift in consumer behavior, with more bettors opting for the convenience and accessibility of online platforms.
Tax Revenue and Financial Year to Date:
The thriving sports betting industry has contributed significantly to the state’s tax revenue. In September alone, sports wagering generated $3.2 million in taxes, with $3.5 million stemming from online bets. Unfortunately, retail sportsbooks recorded a negative contribution of $228,926 due to their monthly loss. Looking at the financial year to date, consumer spending during the three months leading up to the end of September amounted to an impressive $164.3 million. Gross gaming revenue reached $16 million, further contributing to the state’s tax revenue of $7.3 million.
New Hampshire’s sports betting industry continues to experience substantial growth, with September’s revenue hitting an impressive $7.4 million. The partnership with DraftKings, offering exclusive online sports betting via the New Hampshire Lottery, has undoubtedly played a pivotal role in the industry’s success. The surge in online wagers and revenue reflects the changing preferences of bettors, favoring convenience and accessibility. As the industry continues to thrive, New Hampshire can expect further contributions to its tax revenue, benefiting various sectors within the state. With such promising growth trends, the future of sports betting in New Hampshire looks brighter than ever.