New Hampshire Records Lowest Retail Sports Betting Handle Since September 2020

June 29, 2023 | Sports Betting

NEW HAMPSHIRE (June 27, 2023)) — New Hampshire Lottery has reported handle of $52.1 million in May, with gross gaming revenue from sports betting of just over $7 million. The total May 2023 handle is the lowest since August 2022.

Online handle as a percentage of total was 89% for the month of May, considerably higher than the financial year’s run-rate of 79%. The amount wagered on sports in retail locations was the third lowest on record since New Hampshire started offering retail sports betting back in August 2020. It is the lowest month of wagers in a retail environment since September 2020, the only other full month of trading with such low retail takings.

With regards to gross gaming revenue, mobile sports betting made $6.13 million, with $914,424 being added to the total by retail transactions.

For the financial year, GGR sits at $76.6 million, with over $840 million in wagers taken across both retail and online.

New Hampshire mobile sports betting contributed another $2.7 million to the State, with $411,000 coming from retail. Total contributions to the state for FY23 with a month remaining are just shy of $35 million.

New Hampshire Lottery’s money is distributed primarily to public education. The state’s sports betting is run by DraftKings. There are three DK locations across the state, and the DK mobile application is the only method of wagering online for NH residents.

2022 saw the regulation of both Maine and Massachusetts with regards to sports betting. Although Maine has not launched, Massachusetts sports betting generated a lot of hype and got off to a good start. Given increased competition and a current lack of American sport, it may take a while for NH to climb back to numbers it was putting up prior to increased competition.

This article was written for Business 2 Community by Ollie Ring (US Gambling & Regulatory Expert).

SOURCE: Business 2 Community.

Tags: , ,