New Hampshire reveals year-on-year sports betting decline in August

Sports betting revenue and handle in New Hampshire both declined year-on-year during August, although player spending was higher month-on-month.

Handle in New Hampshire reached $38.8m in August, down 10.6% from $43.4m for the same month in 2023. However, the total was 5.2% more than the $36.9m spent on sports betting in July this year.

Some $34.8m was spent betting online with DraftKings and $4.0m at retail sportsbooks in the state. DraftKings secured exclusive rights to offer sports betting online via the New Hampshire Lottery in November 2019.

As for gross gaming revenue, this was down both year-on-year and month-on-month in the state.

For August, revenue amounted to $3.4m, a drop of 19.1% from $4.2m last year and 2.9% behind $3.5m in July. Online betting accounted for $3.1m of revenue, with retail’s share at $270,235.

It was also revealed that New Hampshire collected $1.5m in sports betting tax in August.

Year-to-date sports betting spend surpasses $75.0m in New Hampshire

Looking at year-to-date performance, consumer spending in the opening two months of the 2024 financial year was $75.7m. This is 12.3% lower than at the same point last year.

Some $68.2m has been spent betting online and a further $7.5m at retail locations.

As for revenue, this hit $6.9m during the two months, down 20.7% from last year’s total.

Online sports betting accounted for $6.2m of this total and retail wagering $669,879.

As for tax, this amounted to $3.0m over the two months.

Original Article