As the leaves turn and the fall season hits its stride, New Hampshire sports betting has reached a notable high. Betting enthusiasts in the Granite State spent $77.8 million on their wagers in October—a figure 14.8% lower than the $91.3 million recorded in October of the previous year, yet signifying a robust 16.5% increase from the $66.8 million wagered in September of this year. These numbers not only indicate a significant monthly upswing but also represent the highest betting handle in the state since the record-breaking $103.4 million posted in March of 2023.
The figures, which were released by the New Hampshire Lottery, provide a breakdown of where the bets were placed: mobile betting accounted for the lion’s share with $65.9 million in wagers, while retail sportsbooks scattered across the state contributed a sizable $12.0 million.
In New Hampshire’s digital betting landscape, DraftKings continues to reign as the solitary juggernaut, having cemented exclusive online sports wagering rights for the state in November 2019. The betting giant has maintained a steady grip on the market, offering gamblers in the state a comprehensive range of betting options through its platform.
The gross gaming revenue for October painted a mixed picture. The revenue totaled $8.8 million, marking a slight 3.3% decline from the $9.1 million achieved in the same month a year ago. However, compared to September’s $6.2 million, the revenue in October surged by an impressive 41.9%. The New Hampshire Lottery underscored October’s revenue as the most substantial monthly yield since January, which saw a record $12.6 million, making October the second most lucrative month for sports betting operators within the 2023 calendar year.
A deeper dive into the revenue figures reveals that online betting was overwhelmingly more profitable than its retail counterpart, with $8.4 million of the revenue emanating from online activities, whereas retail betting only generated $334,433 in comparison.
As for the generated tax from these activities, the state collected a total of $3.8 million in October, with $3.7 million originating from online bets and a modest $144,756 coming from retail betting ventures.
Looking at the cumulative performance so far this year, from January through the end of September, the handle in New Hampshire has reached $220.4 million. Online platforms once again dominated, with bets totaling $193.2 million, while retail sportsbooks saw $27.1 million in wagers. This betting activity translated into $21.8 million in revenue, of which online bets contributed a considerable $20.2 million and retail only $1.6 million.
The lottery also provided tax figures for the year to date, indicating that the total amounted to $9.5 million. Here, online wagering proved to be the hefty tax generator, yielding $8.8 million, while retail betting contributed $720,415 to the state’s tax coffers.
The October uptick is a significant barometer for the burgeoning sports betting industry in New Hampshire. It reflects the unabated enthusiasm of sports fans in the state, the strong performance of the exclusive online operator, and the important tax revenue generated from these activities in support of state initiatives. As the end of the year approaches, stakeholders will watch closely to see if this momentum will sustain and whether the betting handle will continue its ascent during the busy sports seasons ahead.
