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New Hampshire Sports Betting Revenue Drops Severely in Feb

New Hampshire sports betting revenues

New Hampshire’s sports betting revenue fell sharply in February after setting records in January. The state’s plummet in gross gaming revenue (GGR) for the month followed a trend around the nation.

February was particularly rough for the state’s lone mobile option, the DraftKings Sportsbook. After taking in a record $7.1 million in January, mobile sports betting revenue in February was just $14,595.

There was better news for the state’s coffers in retail revenue, which exceeded $1 million for just the fifth time since launching in August 2020, at $1,004,503.

But the total GGR of $1,019,097 for New Hampshire in February was the lowest for the state since June 2020, before retail sports betting was an option (the state launched with mobile-first). February’s figure was down 87.3% from January ($8,029,427) and a 43.0% drop from February 2021 ($1,787,930).

New Hampshire is a one-operator state, as DraftKings is the sole provider. In exchange for exclusive access in the state, DraftKings agreed to a 51% tax rate for online sports betting and 50% on retail wagers.

Sports Betting Handle Also Down

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The handle was also down in February but that’s typical in a month with only one meaningful football game offered. February saw New Hampshire take in $70.9 million in sports wagers, down 28.8% from the record $99.5 million in January. Mobile wagering was down by almost the same amount, with a 27.6% drop from January’s $81.6 million to February’s $59.1 million.

The year-over-year comparison was better, as February’s handle was 39% higher than February 2021 ($51 million) and the mobile handle was 37.5% higher than the $43 million from 12 months earlier.

The state revenue share was $458,353 for February, down 88.2% from January ($3,875,782) and a 40.4% decline from February 2021 ($769,387).

February Revenue Decline A National Trend

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New Hampshire was hardly alone in experiencing a steep revenue decline in February.

Both Pennsylvania and Michigan, two of the biggest states, reported negative revenue last month. New Jersey’s revenue was $30.87 million, about half of what it was in January and the state’s lowest figure since July 2020 ($29.5 million). Other states taking in less than half of the sports betting revenue than they had collected in January included Indiana, Mississippi, West Virginia, Connecticut and Maryland.

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