- New Hampshire sports betting handle dropped by 14.7% in handle for February, month-over-month reports show.
- A revenue decline of 57.5% was seen due to 81% of sports bettors having wagered on Tom Brady and the Tampa Bay Buccaneers for the Super Bowl.
CONCORD, N.H. – New Hampshire sports betting activity in February fits the trend that’s been seen nationwide for the month. Not only is February a shorter month that leaves less time to wager on the games but it’s coming off of January and all of the postseason NFL betting that happens during that time.
The New Hampshire Lottery posted figures for the month of February this week that saw a 14.7% decline in handle month-over-month and a 57.5% fall in revenue profits.
Breaking Down February Finances
The New Hampshire Lottery reported $50.995 million in wagers placed for February. To breakdown that combined number, $8.021 million was wagered at land-based locations while $42.975 million was bet on the games using mobile sportsbooks.
Revenue totals for the month came in at $1.79 million with $1.723 million of that coming from mobile platforms and $65,033 from retail locations. The tremendous drop in revenue month-over-month can be attributed to Super Bowl betting and the number of wagers that were put on Tom Brady and the Tampa Bay Buccaneers, totaling 81% of all NH Super Bowl bets placed, which ended up paying out a pretty penny for sports bettors.
However, New Hampshire had a banner month for their sports betting industry in January which hurts the comparison for February that much more. Records were set in January with a monthly handle of $59.795 million and $4.197 million in revenue.
Again, the bulk of betting and revenue came from mobile applications.
The state tax saw an incredible drop of 59% from January to February for the New Hampshire sports betting market. January brought in $1.887 million in taxes for the state that outshined the $769,387 taken in for February. From a year-over-year view, February’s Super Bowl had almost $5 million more in wagers placed this year but over $8.8 million was paid out to gamblers because Tampa Bay went into the championship game as the underdog to the Kansas City Chiefs.
This led to a loss of $1.7 million for the industry after all bets had been paid out.
How Will March Fare?
New Hampshire should see an uptick in revenue if bettors are not as lucky as they were with the Super Bowl when gambling on March Madness and the NBA. But the handle should definitely increase with the biggest event in college basketball happening.
As far as February went, it’s in the books for New Hampshire and the state pretty much had a month like all the other states with regulated sports wagering. February is known to be the worst month for sportsbooks as far as activity is concerned and it definitely lived up to its name for the Granite State’s market.
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Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.