New Hampshire Scores $4.6 Million From Sports Betting
Sports gambling has netted the state $4.6 million in tax revenues since launching last December.
N.H. Lottery Commission officials say that revenue figure would likely be higher if the pandemic hadn’t forced the cancellation of professional and collegiate sports games, and shortened some seasons.
“We were off to a terrific start in 2020 before COVID-19 hit, resulting in sports more or less shutting down worldwide, but with the sports world coming back this past summer, we have been able to build back up momentum quickly,” said the Commission’s spokesperson.
The state says since becoming legal in late December 2019, 52,000 gamblers have placed more than $200 million in bets. Under a contract with Massachusetts-based DraftKings, the state collects half of all profits, which are designated toward the education trust fund.
The New Hampshire Lottery Commission says more than $4 million is being wagered on professional and college football each weekend. Earlier this year, the state missed out on a potential windfall when the NCAA cancelled the popular March Madness basketball tournaments.
While online and mobile wagering makes up the bulk of the action, two in-person sports books--one in Manchester, the other in Seabrook--are also now taking bets. The legislature approved up to 10 in-person sports books statewide.
The Lottery Commission says that as long as the “sports world remains active and we avoid another shutdown,” sports gambling could generate $10 million in the current fiscal year.
Under a plan approved by the legislature, anyone over the age of 18 can place a bet as long as they are physically located within the state’s borders. Collegiate games involving New Hampshire teams are prohibited from wagers.