New Hampshire sports betting declined during the 12 months to 30 June 2024 as retail betting struggled, while Indiana reported its third straight month of handle decline. However, as with many other states, handle and revenue is tracking above prior year figures.
Retail betting decline hits New Hampshire
Starting in New Hampshire, handle for FY24 hit $753.1m (£580.8m/€691.7m), down 14.8% from $753.1m last year according to NH Lottery figures. Of this, $661.5m was bet online, a drop of 6.8%, while retail betting totalled $91.6m, some 47.3% lower. DraftKings operates sports betting exclusively in the state on behalf of the lottery.
Turning to gross gaming revenue, for FY24, this amounted to $76.8m, a drop of 5.2% from the previous year’s $81.0m haul, suggesting a 10.2% hold. This includes $69.4m from online betting, down 0.4%, and $7.4m retail, lower by 37.8%.
In return for exclusivity, DraftKings pays a 51% GGR tax in the state, totalling $33.7m in FY24, down 8.7% on the prior year. Of this, $30.3m came from online wagering and $3.3m retail.
NH betting enters the doldrums in June
The Granite state’s fiscal year ended in June, where the lack of sporting action saw wagers drop to a ten-month low, although above prior year figures.
Player spending in June was $49.4m, up 25.7% year-on-year but 14.8% lower than May and the lowest monthly total since August last year. Online betting contributed $45.6m and retail $4.8m.
Revenue hit $5.3m in June, 20.5% ahead of the same month last year but 18.5% behind May. This was also the lowest monthly haul since last August. Of this, $2.1m came from online betting and just $339,265 retail.
In terms of tax, the state collected $2.3m in June, of which $2.1m was from online betting and $179,669 from the retail market.
Indiana handle slips below $300m in June
Figures from the Indiana Gaming Commission reveal handle for June amounted to $298.2m. However, this is 33.1% above $224.1m last year. It is also the third consecutive month of wagering decline for the state.
Baseball – the only major league in action – was the single most popular sport to bet on in June, drawing $83.5m in wagers. Betting on basketball was up 38.3% year-on-year to $33.3m – WNBA phenomenon Caitlin Clark is currently starring for Indiana Fever – making it the second most popular sport. This year to date, $1.11bn has been staked on the sport, making it the standout performer for 2024.
Parlays across all sports continue to perform strongly, accounting for $88.1m of handle and $1.69bn for the 2024 fiscal year.
Adjusted gross revenue came to $30.5m in June, up 56.4% from last year but 21.8% behind May’s $39.0m haul. From the state’s 14.25% tax on mobile betting and 8.5% levy on retail, operators paid $2.9m to the state during the month.
FanDuel and Blue Chip retain Indiana top spot
FanDuel remains the frontrunner in the Indiana betting market. Players staked $83.9m over the month, resulting in $11.8m in revenue in June off an $83.9m handle, a 14.1% hold.
This high hold beat DraftKings’ 8.8%, which meant it generated $10m in revenue from $114.1m in handle.
Elsewhere, Belterra Casino, which works with Betway and BetMGM, posted $3.3m in revenue off $28.7m in bets. This includes $3.5m from BetMGM, $50,452 Betway – which is pulling out of US sports betting – and £25,582 in retail revenue.
Hollywood Lawrenceburg and partners ESPN Bet and Fanatics generated $1.9m from an $18.4m handle. ESPN Bet was responsible for $1.1m of this, with Fanatics’ share at $757,953. The venue’s retail sportsbook drew the other $64,240 in revenue.
French Lick Resort and partners Bet365 and BetRivers was the only other partnership to see revenue surpass $1.0m, posting $1.6m from $19.2m. Bet365 revenue hit $1.3m, BetRivers $355,704 and retail just $6,712.
Original article: https://igamingbusiness.com/sports-betting/fy24-decline-new-hampshire-indiana-handle-down-june/
