December’s Downturn
It seems that December brought a bit of a chill to New Hampshire’s sports betting market. With a 13.3% drop from the previous year, the handle hit $78.8 million. But it’s not all frosty news; this still marks a small uptick from November 2023’s figures.
Online Betting Reigns Supreme
The convenience of clicking to bet is proving ever popular, as online betting dominated with a whopping $67.0 million of the total handle. Meanwhile, retail sportsbooks chipped in $11.7 million, illustrating the unstoppable rise of digital wagering.
Revenue Sees a Slight Setback
Revenue didn’t escape the December decline, dipping by 7.2% year-over-year to $7.7 million. This slight setback reflects the unpredictable nature of betting patterns and market mood swings.
DraftKings: New Hampshire’s Online Betting Behemoth
The state’s partnership with DraftKings continues to pay dividends, with all online bets in the Granite State flowing through the platform. The company’s monopoly since November 2019 has certainly left its mark on the market.
Tax Revenue: A Silver Lining
Despite the declines, tax coffers were still bolstered by $3.4 million from December’s sports betting, proving that the industry remains a valuable asset to the state’s financial health.
Half-Yearly Highs
Looking at the broader picture, the 2023-24 financial year has been kind to New Hampshire. A hefty $377.6 million handle and $37.7 million in revenue show that bettors are still all-in when it comes to laying down their wagers.
The Future Looks Bright
While December’s numbers show a slight retreat, the overall trend for New Hampshire’s sports betting landscape is one of optimism and growth. With the state keen to further capitalize on this lucrative sector, the odds look good for continued success.