- The New Hampshire Lottery has released official numbers showing that sports betting in New Hampshire is booming.
- The COVID-19 pandemic was expected to lead to losses in the sports betting arena, but instead, the state has seen growth.
- Sports betting in New Hampshire is expected to see $10 million in total net profit for the fiscal year of 2021.
CONCORD, N.H. – The sports betting market in New Hampshire has managed to see continued growth despite the COVID-19 pandemic.
The initial goal for sports betting in New Hampshire by the fiscal year 2021 was set at $7.5 million, but current reports show that the Granite State is on pace to surpass the initial numbers.
Mobile betting is attributed to New Hampshire’s continued success in the legal sports betting market despite COVID-19 shutdowns.
New Hampshire Sports Wagering Grows
Those betting on sports in New Hampshire have been consistent throughout the year even during the pandemic.
Since mobile betting launched back in 2019, more than $200 million in wagers have been made and over 52,000 sports bettors have signed up and bet on sports.
This has allowed the forecast for sports betting revenue in New Hampshire to increase from $7.5 million to $10 million by the end of the fiscal year.
“While it is difficult to make projections given the overall circumstances, the New Hampshire Lottery is anticipating sports betting will generate about $10 million in total net profits for education in Fiscal Year 2021, assuming the sports world remains active and we avoid another shutdown,” said Maura McCann, New Hampshire Lottery Director of Marketing.
New Hampshire is benefitting from the overall boom in sports betting activity the country has seen in 2020. According to the American Gaming Association, over $2.1 billion was wagered in the US in August alone.
With COVID-19 shutting down major sporting leagues earlier in the year, and many of those leagues returning towards the end of summer, the boom in betting can be attributed to the influx in sporting events.
New Hampshire is elated by the sports betting boom, as the Granite State takes in 50% of all sports betting revenue. New Hampshire’s goal is to use the added revenue from sports betting on education.
Out of the $200 million in wagers, the state has taken in $2.25 million in revenue to be used for its education budget.
There are two physical sportsbooks currently operating in New Hampshire, and DraftKings is the sole mobile betting app available. Most of the wagers made have been through the DraftKings mobile sportsbook.
The continued success of the legal sports betting market in New Hampshire, has shown that sports betting can thrive even under a pandemic thanks to mobile betting options.
Local bettors will continue to bet on sports as long as safe options are available.
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Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.