New Hampshire Next to Reach $100M Monthly Sports Betting Handle

New Hampshire Next to Reach $100M Monthly Sports Betting Handle

New Hampshire joins the team of states that broke sports betting handle records in October. The New Hampshire Lottery has announced that bettors in the state wagered $98.2 million for the month.

New Hampshire’s sports betting handle nears $100 million in October

The Granite State’s sports betting handle was reported before Thanksgiving weekend. The numbers exceeded the record that was set in September of $68.1 million. The mobile sports wagering handle for September was $50.5 million.

This signifies an increase of 44.1 percent. The year-to-date numbers also show a major increase in the average volume in the number of wagers placed. In October 2020, the sports betting handle in the state reported $47.05 million, which depicts a 108.7 percent increase.

New Hampshire is home to just slightly over 1.3 million and is the 42nd most populous state in the country. However, bettors across the state have wagered $239.3 million so far as the industry heads into the last month of the fourth quarter. Mobile sports betting is up 35.0 percent from September and 69.4% higher than October 2020.

There are no online casino options, which allowed the popularity of sports betting to take off across the state. The lone sportsbook operator has been able to essentially monopolize the market at this current stage.

DraftKings has benefited by being the only online provider in the Granite State

The Boston-based company DraftKings Sportsbook has benefited from being the only operator in the state. The company has agreed to give 51 percent of the sports betting revenue for being a sole operator in the state. DraftKings also has three retail locations in the state, which include Seabrook, Manchester, and Dover.

Gross gaming revenue has also hit record numbers. The revenue has gone up to $5.40 million, which is an increase of 22.4 percent. September’s figures hit $4.42 million, which was up 28.7% from a year ago. The revenue from October beat the previous record that was set in November 2020 that hit $4.77 million.

The state’s revenue share hit $2.56 million, which is an increase of 35.7 percent from September’s numbers which hit $1.88 million. The year-to-date numbers also had a steady increase of 27.9 percent, as October 2020’s figures showed a revenue share of just $2 million. The previous record in this category was also set back in November 2020, as the previous record was $2.32 million.

For the second straight month in the fourth quarter of the 2021 sports betting market, New Hampshire was able to set new records after seeing five straight months of lower betting handles. The state was able to benefit from five weeks of betting, especially the weekends.

The NFL and college football have boosted the numbers for the state. The gambling statistics will most likely continue to go up as the NBA, NHL, and college basketball season continues for the next few months.

New Hampshire joined a few states that had record-breaking handles across the board. Some of the states include New Jersey, Pennsylvania, Illinois, Nevada, Michigan, Indiana, and Tennessee. New Jersey was the only state to surpass the $1 billion mark once again.

New Hampshire, like the other states that border Massachusetts, will continue to benefit from sports betting. The Massachusetts State Senate is set to adjourn next year as they entered a seven-week recess period.

The convenience of mobile sports betting will most likely not happen until January 2022. This means bettors will continue to cross state lines to participate in the action.