US State New Hampshire Collects Almost $3 Million From April Sports Betting

New Hampshire sports betting in April might have plummeted in one regard but it wasn’t the aspect that matters. The 2023 iteration of the year’s fourth month was the most lucrative in the state ever in this regard.

Win for DraftKings Sportsbook online and a handful of physical sportsbooks in the state improved by 51% in April compared to the same month last year. As a result, the state also got an unexpectedly significant haul during the month.

New Hampshire sports betting revenue doubles in April
April held to its reputation in the US sports betting industry in New Hampshire this year in one way. The amount of money that sportsbooks took in from bettors dropped from a record $103.4 million in March to $65 million in April.

However, that was about the extent of the less-than-desirable news about legal sports betting in New Hampshire for April 2023. The portion of that $65 million that bettors gambled that the sportsbooks kept amounted to over $6.6 million. Therefore, sportsbooks won about 10.1% of the money bet.

According to the New Hampshire Lottery, that means a little less than $3 million for the state. The $6.6 million of gross revenue is the highest such figure for April of any year in New Hampshire. Legal sports betting in the state began in December 2019.

As is normally the case, online bets on DraftKings accounted for the majority of the activity.

DraftKings turns lottery contract into $3 million in revenue
Of the total dollars bet during April, 87.3% of the money came from online bets. For that reason, win from online bets also represented 90.9% of the total revenue in New Hampshire for the month. DraftKings is the New Hampshire Lottery’s online sports betting partner.

For that reason, DraftKings is the only legal online sportsbook in the state. After paying out the state’s share of the online revenue, DraftKings came away with about $3.2 million in revenue from its New Hampshire sportsbook.

While landing the sports betting contract with the New Hampshire Lottery might be producing revenue for DraftKings, that might be the extent of legal online gambling in New Hampshire for the foreseeable future.

Recently, a committee in the state House of Representatives stopped the progress of a bill that would have legalized real-money online table games in the state. The bill had already been approved by the New Hampshire Senate at that point.

Currently, it seems unlikely that representatives will take up the bill again this year. However, that might not be the worst thing to happen to the gambling industry in New Hampshire. An online casino product without slots is a mere shell of its potential.

DraftKings showed its potential in New Hampshire for April this year. If the next two months can produce similar gains, the New Hampshire Lottery might soon close out a record fiscal year.

Source: Play USA