The overall handle for sports betting in New Hampshire fell to $62.3 million in February, a 15.0% decrease from the $73.3 million recorded in January. This is the third month in a row that the state’s sports betting handle has decreased.
The internet market is still the biggest, with $55.9 million in handling from mobile betting—a substantial 86.9% of the total—coming from this platform. By comparison, New Hampshire’s handle in February was only $6.4 million from retail betting. New Hampshire legalized sports betting in January, 2020.
Decrease in Gross Gaming Revenue
The gross gaming revenue (GGR) declined by 33.0% month over month in February, from $9.8 million in January to $6.6 million. This was another noteworthy month for GGR declines. At $6.2 million in September, this GGR statistic is the lowest over the last five months.
State tax revenues are suffering as a result of the declining trend in sports betting data. With just $2.8 million in collections, tax receipts in February fell to a five-month low, a 36% decline from $4.5 million in January.
The amount of bets taken in February 2023 in New Hampshire exceeded $500 million for the fiscal year, however it was 28.4% less than the same month the previous year, when $87.0 million in wagers were accepted.
Compared to February 2023 ($7.1 million), February’s GGR of $6.6 million was 7.0% less than that of February 2023. Likewise, the state’s revenue portion, at $2.9 million, lagged 12% behind the previous year’s data.
With $513.2 million in handling thus far this year, New Hampshire is more than $100 million behind the same period last year, when $623.8 million in wagers were placed during the first eight months of the 2022 fiscal year. The state tax income from sports betting is also lagging behind, with the GGR to date falling 6.8% short of last year’s data.
Despite obstacles, the sports betting scene in New Hampshire is still developing, offering chances for modifications and enhancements in the months to come.
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