New Hampshire January sports betting broke revenue records. The profitable month surpassed previous monthly records for both total handles and total revenue from sports betting in the state.
Wagers made on the Super Bowl 2022 throughout the month likely contributed to the high revenues.
January revenue numbers for New Hampshire sports gambling
Sports bettors in New Hampshire gambled a total of $99.5 million in January. DraftKings mobile sportsbook took most of the action with a whopping $81.6 million in online bets.
$18 million worth of bets were placed at one of the state’s three in-person sportsbooks:
- Seabrook at The Brook
- Manchester at Filotimo
- Dover at Filotimo
Players spent 66.4% more in January 2022 than in January 2021. December 2021’s total handle amounted to $86.4 million, so players in January also surpassed December 2021 spending by 15.2%.
New Hampshire’s monthly sports betting handle’s previous record was $98.2 million in October 2021. January’s handle didn’t beat out that record by much, but it still surpassed it by more than $1 million.
After winner payouts, revenue from sports betting in NH totaled $8 million.
New Hampshire’s January revenue saw a 90.5% increase year-over-year from 2021’s revenue numbers of $4.2 million. Compared to December 2021’s $2.6 million, January’s revenue more than doubled the previous month with a 207.7% increase.
Furthermore, revenue far surpassed the previous record in November 2021, which was $6.2 million.
Between online and in-person wagers, $905,849 of the total revenue came from the state’s three retail sportsbooks. A whopping $7.1 million came from online bets.
NH sports betting tax revenue doubles previous month and YOY
The state of New Hampshire has a deal with DraftKings as its only online sportsbook. Due to the exclusivity agreement, the state can charge the sportsbook up to 51% tax on its revenue.
Should New Hampshire add a second and third online sportsbook, DraftKings’ tax rate would drop to 21%. Add a fourth and fifth sportsbook, and the sportsbook tax rate becomes 16%.
With January’s record-breaking revenue, the state will collect taxes of $3.9 million. $3.5 million comes from online sports bets, while in-person sports betting adds the remaining $395,969.
The exclusive deal benefits the state since the vast majority of sports bets in New Hampshire occur online.
First years of sports wagering in NH a success
This isn’t the first success seen by New Hampshire’s sportsbooks. Sports wagers in NH recently hit the $1 billion mark after two years of legal sports betting in New Hampshire.
Since the beginning of New Hampshire’s fiscal year in July 2021, sports wagers have amounted to $508.5 million. Gross revenue for sports wagers amounted to $31.3 million.
The NFL remains the sport that sees the highest number of bets for sports betting in NH. The Super Bowl also sees the highest total bets and revenue of any individual game of the year.
Other sports contributing to New Hampshire’s sports betting success are the NBA, college, basketball, and college football.
With January’s high revenue included, the state of New Hampshire will have collected over $15 million in taxes from sports betting revenue so far this fiscal year.
Taxes on sportsbook revenue, along with NH Lottery proceeds, are contributed to New Hampshire’s education funds.
Charlie McIntyre, New Hampshire Lottery Executive Director, is hopeful for even more success in the state’s sports betting future.
“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,” he has said.
McIntyre also points to the growing revenue figures as proof of sports betting success in New Hampshire.
“Our sports betting sales figures speak for themselves,” he explained. “And it goes to show just how perfect a fit sports betting is for our market.”