The state of New Hampshire signed a six-year exclusive deal with DraftKings in 2019. The state witnessed the sports betting handle and revenue increase in March after a down March in February.
New Hampshire’s Sports Betting Numbers
Bettors across the Granite State wagered a total of $78.8 million which was 11.2 percent higher than February’s $70.9 million. The year-to-date numbers were noticeably higher in March 2022, as last March’s figures reached $55.8 million.
In February, mobile platform users wagered $60.3 million, a slight increase of 2.1 percent from $59 million in February. Meanwhile, retail sportsbooks received $18.5 million in bets. The sports betting volume didn’t change much, but the revenue numbers skyrocketed in March as the results favored the house.
Gross gaming revenue for the month saw a significant increase from February. March saw a revenue figure that reached $5.3 million, which is a significant increase of 418 percent from February’s numbers which slightly surpassed $1 million. The year-to-date numbers also saw a slight increase of 23.3 percent from March 2021’s $4.3 million.
The New Hampshire Lottery was able to generate $2.5 million in taxes for the month, which was an increase of 446.9 percent from 458,353, which was generated in February. For the financial year to date, bettors have wagered a total amount of $658.2 million, which generated $37.6 million in revenue, which left $17.5 million for the state to collect.
April Outlook For New Hampshire
Many experts in the sports betting industry predict that the sports betting volume will pick up once the NFL season starts again. The beginning of April saw the end of March Madness and the Masters, which is the biggest golf tournament of the year.
Baseball doesn’t generate enough interest like other professional sports leagues. Hopefully, the NBA playoffs will boost the monthly handle numbers, as well as the NFL Draft props. The NFL Draft is set to take place during April 28-30.
Maine Impact on New Hampshire Sports Betting Handles
Maine’s Sports betting legislation is very close to reaching Gov. Janet Mills for consideration. On Tuesday, the state Senate passed LD 585 23-11. This legislation recognized four tribes’ sports betting exclusivity in the state as the tribes are in a good position to control the potentially lucrative market.
Commercial casinos and racetracks were excluded from the original bill completely. However, Penn National Gaming’s Bangor casino received retail sports betting instead of the horse racing track it operates. The bill also strengthens state-tribal communication and eases tribal tax liabilities.
Mills doesn’t support a larger tribal sovereignty bill that passed both chambers last week as several senators spoke against the process of the new bill.
Sen. Bradlee Farrin stated on the floor;
“We talked and included the tribes in the previous legislation we passed through here. The chief executive did not include the people in that process… As we wonder sometimes why the people of the state of Maine don’t always have faith in our work, here is how this piece of legislation came to be.”
Farrin wants to have a conversation stating the importance of mobile sports betting compared to retail sports betting. Maine’s lack of a sports betting market has benefited New Hampshire as many residents have crossed state lines to place wagers.