As January unfolds, the numbers emerging from the sports betting scene in New Hampshire indicate a notable drop, echoing the previous month’s downtrend in player spending. A detailed look at the figures reveals that the total outlay on sports betting for the month stood at $73.3 million. This not only marks a 24.6% drop compared to the $97.2 million from last January but also reflects a 7.0% decrease from December’s $78.8 million. It’s becoming apparent that the state is experiencing the second consecutive monthly decline in its sports betting handle.
Drilling down into the specifics, the majority of wagering took place in the digital realm, with $62.7 million placed on sports bets online. Meanwhile, retail sportsbooks in New Hampshire witnessed $10.6 million in player wagers. This distribution further underscores the continuing trend of online betting dominating the market.
When it comes to gross gaming revenue, the data presents a mix of news for the state. January’s revenue saw it trail behind the record $12.3 million achieved in January 2023 by 20.3%. Yet, when juxtaposed with December’s figures, it actually depicts a 27.3% increase from the $7.7 million generated then. To break it down, online betting was responsible for the lion’s share of January’s revenue, contributing a significant $8.9 million. On the other hand, retail sportsbook wagering produced a more modest $951,079.
In New Hampshire’s sports betting landscape, DraftKings has maintained its position as the sole online betting operator − a monopoly it has held since November 2019 after securing the exclusive rights. This has important implications for the state’s market dynamics and competition levels.
The impact of sports betting on state revenues was also felt, with taxes from January’s activity amounting to $4.5 million. A closer look reveals that online betting taxes contributed an overwhelming majority of this sum, amounting to $4.0 million, while retail betting taxes accounted for $427,987.
Curious about how these January figures blend into the broader picture? If we examine the year-to-date performance, New Hampshire has crossed an important threshold in terms of handle. From the beginning of the fiscal year through to the end of January, a total of $450.9 million was spent on sports betting. This includes $390.8 million gambled online through DraftKings and $60.1 million at bricks-and-mortar retail facilities.
In the domain of earnings, the revenue for the same seven-month period reached $47.5 million, with online wagers generating the majority of this at $42.4 million and retail betting bringing in $5.1 million. The accumulation of tax from all sports betting activities for these months totaled $20.9 million, with online betting accounting for $18.6 million and retail contributing $2.3 million.
This data on New Hampshire’s sports betting performance not only reflects the fluctuations within a single month but also helps gauge the state of the market over an extended duration. Observing the precedents of player behavior, digital dominance, and revenue generation provides a multifaceted view that illustrates the intricacies and the evolving nature of this sector. As the year progresses, stakeholders will keep a close watch on trends and adapt to the shifting landscape of sports betting within the state and beyond.
