New Hampshire was able to finish 2020 strong in the sports betting industry, seeing an increase in sports betting handle. The December total was not only an 11 percent increase from November, but it was a record for the market.
The total sports betting handle in New Hampshire during December was $51.6 million. That was an increase of more than $5 million from November.
The New Hampshire Lottery announced these figures last week, and it could set the sports betting market up for a big year in 2021.
Once again, mobile sports betting led the way in New Hampshire, accounting for $43.7 million of the total handle. Mobile handle increased by more than 12 percent, and this is another trend that held true throughout 2020.
2021 is set to become another big year for the US sports betting industry, but New Hampshire is already established. In New England, Rhode Island is the only other sports betting option at this time, but that could change in the next 12 months.
Revenue Numbers Drop
Despite seeing an increase in total sports betting handle, the revenue numbers actually declined during the month of November. Gross gaming revenue was $4.5 million last month, which was a decrease from $4.9 million in November.
This is not an alarming trend that needs to be looked into in New Hampshire, but it simply means that bettors were more successful when placing bets in December. Tax revenue was also down nearly 8% to $2.1 million in December.
DraftKings the Only Option
The sports betting law in New Hampshire will allow up to five sports betting licenses to be issued, but there is just one option at this time. The New Hampshire State Lottery chose DraftKings as the sole online and retail sports betting operator.
One of the biggest reasons that DraftKings was chosen as the only operator was that it agreed to share 51 percent of all revenue with the state. This number would drop if another operator was approved, and that could hurt both DraftKings and the state.
Through the agreement, DraftKings is able to have up to 10 retail sites throughout the state but is currently only operating two locations. The Brook Casino in Seabrook is the biggest retail location in the state, and retail betting is also available in Manchester at Filotimo Casino.
New York Could Pose a Threat
New Hampshire is never going to become one of the biggest markets in the US, but its numbers could take a hit in 2021 if New York is able to legalize and launch online betting. If online betting was available in New York, residents from New Hampshire would likely travel to that state to take advantage of a bigger market.
It’s unclear how soon New York can launch online sports betting, but that state might actually be looking to New Hampshire for a guide. New York Governor Andrew Cuomo has indicated that he wants the state lottery to run sports betting, just as it is done in New Hampshire.