The latest report from the state’s Lottery shows New Hampshire sports betting revenue declined in February, falling well below January’s numbers.
In total, the handle for New Hampshire in February was $62.3million. That represents a 15% drop on January’s figure of £73.3m.
It’s now the third consecutive month that New Hampshire’s sports betting handle has declined.
Online sports betting is still the dominant market, with mobile making up $55.9m or 86.9% of the total handle. Retail managed just $6.4m in handle in the same month.
February’s gross gaming revenue (GGR) was another victim, dropping from January’s $9.68m figure to $6.6m. With a 33% month-to-month decline, February’s GGR was the lowest figure for five months, since September’s $6.2m
The decline in New Hampshire sports betting revenue has also impacted the state’s income from taxes. In another five-month low, February’s taxes from sports betting were just $2.8m, down 36% on January’s $4.5m.
New Hampshire Sports Betting Revenue Shows Worrying Year-on-year Comparison
Although February’s handle saw New Hampshire hit $500m in wagers for the fiscal year, it was still 28.4% down on the previous year. In February 2023, New Hampshire accepted $87m in wagers.
And the same is true for GGR. This year’s $6.6m figure is 7% down on the $7.1m figure from February 2023, with the state also down 12% on last year’s 2.9m revenue share.
New Hampshire’s $513.2m handle this financial year is more than $100m behind last year’s figure for the same period when the state took $623.8m in bets during the first eight months of the 2022 financial year.
To date, the GGR stands at $54.1, down 6.8% on the previous year’s figure of $58.1m. Tax revenue from New Hampshire sports betting also lags behind the previous year, with $23.8m generated compared to $26.7m at this point last year.
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