July 22, 2024 2:00 am
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Sports News

Another Big Year for Sports Betting in New Hampshire as New Competition Looms

Credit: iStock

Staff Writer

Sports betting has been a strong revenue source for New Hampshire since it became legal 3 years ago, and for the third-straight year, the state broke records in terms of player count, wager amounts, and revenue. 

In 2022, $892 million was wagered, up 27% from the previous year. The contribution to state education increased by $10 million.

Since sports betting in New Hampshire began, more than $1.8 billion has been wagered through the Draft Kings platforms, with New Hampshire receiving $62 million for state education, doubling expectations, officials said.

However, a downward trend in the state might be looming. New Hampshire has been an oasis of sports betting in New England, with people coming over the border from nearby states to place bets. But legal sports betting in Massachusetts begins on Jan 31st, and Maine could allow betting as soon as this summer, meaning less of the New England market for the Granite State. 

Officials note that Massachusetts residents constitute almost a quarter of betters in New Hampshire, and legal betting in the neighboring state could take a big revenue chunk that our state has been enjoying for three years. Regardless, officials are still optimistic that the sports betting industry could still provide considerable funds for the state education system.