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January’s New Hampshire Sports Betting Tax Revenue Up 31.83% Monthly

Written By Katarina Vojvodic on March 4, 2024
People Play Different Sports Collage

New Hampshire sports betting handle (total bets) in January showed a significant drop in activity compared to December, according to the  New Hampshire Lottery’s latest gaming report.

On the other hand, gross gaming revenue (GGR) increased monthly but showed a notable decrease from the results NH sports gambling reached in January last year.

Entering the Granite State in November 2019, DraftKings (NASDAQ: DKNG) remains the only NH operator offering online sports betting.

New Hampshire’s January sports betting handle down monthly and yearly

In January 2024, New Hampshire’s sports betting handle was $73.30 million, representing a 24.55% decrease from January 2023’s remarkable $97.16 million. Last month’s betting handle is also a 6.92% decline from New Hampshire’s December 2023’s $78.75 million.

Of the $73.30 million in total bets generated last month:

  • $62.72 million came from mobile sports betting
  • $10.58 million was spent on retail locations

NH sports betting revenue and taxes so far the highest in FY2024

NH sports betting reached a revenue of $9.82 million in January, which shows a 21.84% decrease compared to $12.56 million in January 2023. Although revenue showed an annual decline, it has been the highest during this fiscal year (July 2023-June 2024).

On a monthly comparison, January 2024 revenue is an increase of 28.3% from December’s $7.65 million. As usual, most of the money gambled in January came from NH online sports betting:

  • $8.87 million came from the state’s sole online sportsbook
  • $951,079 came through retail sports betting

According to the New Hampshire Lottery’s January 2024 report, state revenue share amounted to $4.45 million, with $4.02 million in taxes coming from online sports betting. The money the state collected in taxes in January represents a 31.83% monthly incline and, like revenue, is the highest amount during this fiscal year (FY 2024).

New Hampshire players spent over $450M in FY2024

Looking at the year-to-date performance, players in New Hampshire have spent almost $450.93 million since July 2023. Of that number, players spent over $390.84 million placing online bets with DraftKings and almost $60.09 million at retail sportsbooks.

During the same period, gross revenue reached $47.52 million, with almost $42.40 million coming from online sports bets.

Meanwhile, the state collected $20.92 million in taxes, of which $18.62 million came from online betting.

DraftKings exclusive in NH online sports betting market since 2019

After the New Hampshire Lottery and DraftKings Sportsbook established a partnership in 2029, the US gambling operator became the players’ only option.

After securing exclusive rights to sports wagering in the state in November 2029, DraftKings online betting app went live in December 2019.

Although the state allows up to 10 retail locations, there are three physical sportsbooks in New Hampshire:

  • Filotimo Casino and Restaurant in Dover
  • Filotimo Casino and Restaurant in Manchester
  • The Brook in Seabrook

The state passed HB 330 and HB 354 in 2021 to refine its sports betting law.

In the meantime, online casinos in New Hampshire remain illegal. Although the state will not consider an iGaming bill in 2024, it is moving closer to legislation. You can follow the progress of NH online casino legislation in our 2024 online casino bill tracker.

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Katarina Vojvodic

Katarina Vojvodic is a lead writer for PlayUSA who lives in Toronto. Vojvodic provides coverage of the US gambling industry with a focus on US online casinos. Previously, she covered Ontario’s online gambling industry for Vojvodic holds a master’s degree in journalism from the University of Belgrade. Outside working hours, she can be found near the water with her husband and their two kids.

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