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
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
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.