The New Hampshire Lottery’s report for February showed another decline in the state’s sports betting market, falling well behind January’s figures.
Total handle for New Hampshire in February was $62.3m (£48.9m/€57.2m), 15.0% down on January’s figure of $73.3m. This is the third month in a row that New Hampshire has seen a decline in sports betting handle.
Online continues to dominate the market, with mobile accounting for $55.9m in handle, 86.9% of the total figure. Retail was responsible for just $6.4m of the handle for New Hampshire in February.
February’s gross gaming revenue (GGR) also fell to $6.6m from January’s $9.8m, again a significant 33.0% month-on-month drop. February’s GGR figure was the lowest in five months since September’s $6.2m.
The decline in the state’s sports betting figures is also having a negative impact on its tax revenues. These fell to another five-month low of just $2.8m, having dropped 36% from January’s $4.5m.
New Hampshire’s concerning year-on-year comparison
While February’s handle did take New Hampshire past $500m in wagers accepted for its financial year, it was also 28.4% behind the same month last year, when $87.0m in bets was accepted in New Hampshire.
February’s GGR of $6.6m is 7.0% short of February 2023’s $7.1m, while the state’s revenue share was also 12% behind the same month last year at $2.9m.
The state’s handle figure of $513.2m in its financial year so far is over $100m behind the same point last year, when New Hampshire had received $623.8m in bets over the first eight months of its 2022 financial year.
The GGR to date is currently $54.1m, 6.8% behind the same point of New Hampshire’s FY2022 total of $58.1m. State tax revenue from sports betting is also lagging behind FY2022 at $23.8m, having already accumulated $26.7m in tax at this point last year.
