New Hampshire sports betting handle sees second straight monthly decline
Granite State’s $52.1m in May wagering activity down nearly 20% from April figure
New Hampshire’s sports betting market saw a dip in wagering activity in May as the state generated just $52.1m in handle for its second consecutive monthly decline.
Since bettors in the Granite State combined to wager a record $103.4m in March, handle has dropped precipitously, with $65.1m in April followed by the subsequent decline to just over $50m in May, according to reports released by the New Hampshire State Lottery.
The $52.1m figure from May represented a 19.9% month-over-month (MoM) downtick, as well as a 31.6% drop from $76.2m during the same period of 2022.
Revenue, conversely, was up slightly in May as sportsbooks generated just over $7m in gross gaming revenue (GGR) for the month. That equated to a 5.2% MoM increase thanks to a hefty 13.5% operator hold percentage, resulting in $3.1m in tax payments back to the state.
The bigger slowdown in monthly betting activity can be at least partly attributed to the rise of online betting in neighboring Massachusetts, which launched mobile operations on March 10.
“I think there was the initial first wave of activity,” New Hampshire State Lottery executive director Charlie McIntyre told WMUR 9. “I’m sure you saw the massive media buying from all of the sportsbooks in Massachusetts.
“So I assume that would have an impact. I think it will settle down, I don’t have a reason to be concerned sitting here,” he added.
McIntyre went on to note that he still expects sports betting revenue to generate $38m in state taxes this fiscal year, which concludes at the end of June.
In the 2022 fiscal year, New Hampshire’s revenue share from sports betting totaled $23.9m, with all proceeds going toward state education.