Sports betting activity in New Hampshire also took a hit in February. Other jurisdictions across the industry witnessed a decrease in their handles as there was a lack of sporting events in the month’s schedule.
Breaking Down New Hampshire’s Monthly Handle
The state reported a monthly handle of $70.9 million, which is a decrease of 28.8 percent from January’s $99.5 million. However, February 2022’s numbers were still 39 percent higher than its year-to-date numbers, which showed $50.9 million for February 2021.
This was the lowest handle since September of last year, and the figures could be compared to the handle in June 2020. June 2020 was a tough month for the sports betting industry because the COVID-19 pandemic canceled sporting events not only in the United States but across the world.
Mobile sports betting made up the majority of the handle, but the online sector of the market also witnessed a strong decline in its numbers. Mobile sports wagering accounted for $59.1 million of the overall handle, which notes a decline of 27.6 percent from January’s $81.6 million.
However, the online handle was 37.5 percent higher than February 2021’s $42.9 million. The gross gaming revenue also plummeted for New Hampshire as the handle showed $1.01 million, which is 87.3 percent down from the previous month from January’s $8 million and a decline of 43 percent from February 2021’s $1.8 million.
New Hampshire’s Betting Volume Decreased in February
The state was able to generate $458,353 in taxes for the month. Of the total revenue generated, $452,026 came from retail locations, and just $6,327 came online. This signifies the results for the month that favored the bettors instead of the house in the mobile category.
Still, the revenue total was down 88.2 percent from January’s $3.9 million. The year-to-date figures are also down 40.4 percent from February 2021’s $769,387.
The state was far from even getting close to the handle, and revenue’s all-time high. The handle record is slated at $99.5 million, while the record- revenue total is at $8 million.
February is usually when the industry as a whole takes a step back, even with the Super Bowl on the
schedule. This is the shortest month of the year, and there aren’t many events bettors can place wagers on. Sportsbook operators across the country are looking forward to what March Madness could bring in for March’s monthly handle.
Churchill Downs Inc. is Set to Acquire a Gaming Facility in New Hampshire
Churchill Downs Inc is in the works of acquiring a gaming facility in New Hampshire by signing a definitive agreement to acquire Chasers Poker Room in Salem. The gaming facility offers poker and a wide variety of table games. A portion of the revenue will be headed to non-profit organizations licensed throughout the state.
Churchill also plans to use the facility to accommodate historical racing machines. Just last year, the state-authorized existing charitable gaming operators to offer historical horse racing at licensed facilities.
Churchill will move away from the sports betting business as the company was in the red and struggled to stay afloat in a very competitive market.
