New Hampshire is not one of the biggest sports betting markets in the United States, but it was still able to start 2021 off strong. The total sports betting handle in January was $59.7 million, which was a new record-high for the state.
The previous state record was set in December 2020, when the total sports betting handle was $51.6 million. This represents an increase of nearly 16 percent, and it could set the stage for a huge sports betting year in the state of New Hampshire.
Once again, it was online sports betting that was the most popular option in New Hampshire, accounting for over $49.4 million. Retail or in-person sports betting handle grew by 30% up to $10.3 million in January.
The COVID-19 pandemic has affected in-person betting options in the state, but these retail sportsbooks were back up and running in January 2021. Retail sports betting posted a 21 percent increase in sports betting revenue, the only betting option that did so.
New Hampshire could see some sports betting changes in 2021, but it’s unclear if any bills will be passed.
Revenue Numbers Decrease
Despite a large increase in the total sports betting handle, sports betting revenue actually saw a sharp decline to begin 2021. Total sports betting revenue fell 7.5% to just $4.1 million in January 2021.
Mobile sports betting revenue actually saw a much larger decrease of nearly 15% to begin the 2021 calendar year. Online sports betting revenue was $3.1 million in January, and a break in the NFL action near the end of the month played a large role in these numbers.
Super Bowl Provides Loss to Sportsbooks
The Super Bowl provided a huge boost to the total sports betting handle in New Hampshire, but it was not a very profitable one for sportsbooks. Super bowl betting brought in more than $7 million in wagers this year, which was an increase of more than $5 million.
Unfortunately for New Hampshire, the payout from the Super Bowl was $8.8 million, which represented a loss of $1.7 million. Over 80 percent of all bets were placed on the Tampa Bay Buccaneers, and the upset win cost the sportsbooks money.
More Competition Coming
New Hampshire has enjoyed plenty of sports betting success as Rhode Island is the only other state in New England that offers sports betting. That could be changing at some point in 2021 as both Massachusetts and Vermont are looking to legalize the industry.
Massachusetts Governor Charlie Baker is a big proponent of legal sports betting, and there were more than a dozen sports betting bills introduced last week. This state could become a huge force in the sports betting industry, especially with a number of popular professional teams.
Vermont is another state that has support from the governor as Phil Scott actually attempted to introduce a sports betting bill in 2019. This state is hoping to launch both in-person and retail betting, which would provide a threat to New Hampshire.