In March, New Hampshire reported a 16.5% month-on-month increase in sports betting handle, likely boosted by the March Madness NCAA tournament.
New Hampshire had previously seen its handle drop for three consecutive months, even with the Super Bowl in early February.
New Hampshire’s March figures were aided by its mobile sector, with online accounting for $65.0m in bets taken, or 89.5% of the monthly total, having recorded a handle of $55.9m in February.
Retail handle also increased, jumping 18.8% to $7.6m from February’s figure of $6.4m.
New Hampshire revenue down despite handle rise
Although New Hampshire’s handle ended its slide, revenue continues to falter in the Granite State.
March’s gross gaming revenue stood at $5.6m, the third-lowest in its FY2024 and the lowest since August 2023, prior to the NFL season getting underway.
Consequently, the sector’s contribution to the state also decreased again, dropping from $2.9m in February to $2.4m in March.
The year-on-year comparison
New Hampshire’s year-on-year figures also show an alarming decline in handle. March 2023 was the state’s highest monthly handle total at $103.4m, 42.4% higher than the same month this year.
However, New Hampshire’s March GGR of $5.6m was higher than the $4.8m generated in March 2023, while the state contribution for this year was also 14.2% up on the same month last year.
Cumulatively, the state has an accumulated handle of $585.8m so far this year, falling well behind the $727.1m in bets taken at the same point last year.
New Hampshire’s GGR for its FY2023 so far, totalling $59.7m, is also lagging behind the $62.9m generated in the first nine months of FY2022. State contributions are also $2.6m lower than the previous year.
Original article: https://igamingbusiness.com/sports-betting/new-hampshire-sports-betting-handle-march/
