New Hampshire’s sports betting industry is off to a strong start based on its first set of figures.
According to the New Hampshire Lottery, bettors in the Granite State wagered $17.3m on sporting events during the state’s first month of legal sports betting.
The NH Lottery did not disclose full details for the first month of sports betting but did reveal that it generated more than $1.2m in net profit from the activity.
Sports betting officially went live in New Hampshire on 30 December 2019 thanks to a deal between DraftKings and the NH Lottery.
The figures available
On top of revealing the state’s total betting handle for January and net profit, the NH Lottery said that more than 29,100 users have registered with the state’s sports betting platform.
Governor Chris Sununu said: “In just one month, sports betting has generated over $1.2 million in net profit to the state, which goes directly toward supporting our education system – a win for kids. There is no doubt that New Hampshire is already serving as New England’s go-to destination for sports betting, and we are just getting started.”
Charlie McIntyre, executive director at the New Hampshire Lottery, said: “Our initial results over the first month speak to just how significant it was that we were able to launch mobile and online sports betting in time for the NFL playoffs, and specifically the Super Bowl. The Super Bowl is the single largest sports event of the year and we have seen incredible momentum building over the past few weeks. We are off to a tremendous start and we look forward to building on this success and continuing to maximize support for education in New Hampshire.”
Sports betting in New Hampshire
In July 2019, New Hampshire became the second New England state to legalize sports betting. Land-based, online and mobile sports betting is legal under the state’s law which allows the New Hampshire Lottery to award licenses to 10 land-based venues and five online and mobile sportsbooks.
At the end of November, DraftKings was awarded an exclusive contract to offer sports betting after being selected through a competitive bidding process.
Under the agreement with the state lottery, New Hampshire will receive 50% of the operator’s sports betting revenue. This will help support the Lottery’s mission to generate funds for education in the Granite State.
So far, six cities in New Hampshire have approved land-based sports wagering. During the fall elections, the cities of Berlin, Claremont, Franklin, Laconia, Manchester and Somersworth, voted in favour of land-based sports betting. New Hampshire towns will get the final say on land-based sports betting during Town Meeting warrants in spring 2020.