New Hampshire saw a month-to-month dip in its April sports betting figures.
It’s not all bad news, however.
The state’s market growth is also readily apparent, showing the possibilities available in a state primed for further prosperity.
New Hampshire sports betting consistently declines in April
New Hampshire tallied roughly $37.4 million in handle and $2.2 million in gross gaming revenue in April. The state’s revenue share was just over $1 million.
In comparison, retail sports betting raised $9.2 million in handle, $1.02 million in revenue, and more than $463,000 for the state’s revenue share.
Combined, the Lottery’s sports betting market tallied $46.7 million in handle, $3.3 million in revenue, and $1.4 million for the state.
The combined handle represented a more than 16% drop from March’s total. Gross revenue was down 12%, while the state’s share dropped 23%.
March, meanwhile, was New Hampshire’s second-highest handle total since sports betting started in the state in December 2019. The $15.1 million wagered on the March Madness tournament helped boost those numbers.
The best handle amount ever generated in New Hampshire came in January, at nearly 59.8 million, in a month stacked with NFL playoff games, NBA basketball, and the CFP championship.
Meanwhile, the $4.2 million in revenue generated in March was the third-highest in the state’s brief sports betting history, behind November 2020 ($4.7 million) and December 2020 ($4.5 million).
In comparison, April’s handle amount is the first time since November 2020 the amount bet on sports in New Hampshire dipped below $50 million.
It is also just the second time since September 2020 that revenue dipped below $4 million.
That said, a dip in April is far from a major concern.
After the Final Four in early April, the month lacks any of the major sporting events that carry sports betting markets throughout the remainder of the year.
Instead, bettors can only choose from start of the MLB season, the dog days of the NBA, and novelties like the NFL Draft.
Sports betting in New Hampshire has growth opportunities
Despite the month-to-month decline, the state’s annual figures paint a pretty picture.
Both handle ($3.7 million to $46.7 million) and revenue ($262,393 to $3.3 million) grew by roughly 92% from April 2020 to April 2021.
In conjunction, May exceeded $500 million in wagers since sports betting launched.
More than 52,000 bettors have registered to bet on sports; they have placed more than 12.5 million bets.
During fiscal year 2021, which ends at the end of this month, handle has averaged $10.1 million per week.
“I’m proud that the system we have designed has enabled the Granite State to become the premier destination for sports betting in New England,” said Governor Chris Sununu in a statement.
“Our sports betting sales figures speak for themselves and it goes to show just how perfect a fit sports betting is for our market,” added New Hampshire Lottery Executive Director Charlie McIntyre.
“We are extremely well-positioned to continue maximizing sports betting as a major revenue generator for New Hampshire schools for years and years to come.”
The increases show the inherent growth possibilities inside New Hampshire’s sports betting market.
Is it time for another NH betting app?
Right now, DraftKings is the exclusive digital sportsbook operator in New Hampshire and also runs two retail books in Seabrook and Manchester.
Such a monopoly comes with hiccups, including an increased risk for technological troubles, something already seen in the state.
A single app also means less awareness and limited betting opportunities, each of which contributes to keeping the black market alive. Not to mention New Hampshire’s prohibition on betting on in-state collegiate athletics.
Albeit limited, expansion ideas have been generated, including the Lottery’s embrace of the “coming soon” Sports 603 site.
Regardless, state officials would be smart to heed the advice of those looking to further grow what is clearly an industry ripe for enhanced profits, specifically on the mobile side.
