The New Hampshire Lottery recently announced the April sports betting numbers, and it was a disappointing month for the industry. The total sports betting handle was just $46.7 million after it climbed up to nearly $56 million in March.
Sports betting numbers were expected to dip for the month of April, but the New Hampshire Lottery was hoping that the industry would continue on its upward trend. New Hampshire has never been a big market, but it has produced some impressive numbers in the past.
Online betting made up $37.4 million of the total handle for the month of April, and this is similar to the results from previous months. Despite just having one online option in the state, that continues to be the most popular option.
The gross gaming revenue for the month of April also dipped from $4.2 million in March to just $3.3 million in April.
DraftKings Only Option
DraftKings remains the only online sports betting option in the state as the operator has agreed to a contract with the New Hampshire state lottery. The company has agreed to split 50% of the revenue with the state, and that is why it was awarded the deal.
Since sports betting officially launched in 2019, DraftKings has taken in over $500 million in wagers. There are more than 50,000 registered customers at DraftKings in New Hampshire, and that total does keep increasing as time goes on.
A Trend in the US
The dip in sports betting handle and revenue in New Hampshire fell right in line with what took place throughout the United States. Nearly every state that has reported April sports betting numbers saw a decrease from March, and the 2021 NCAA Men’s Basketball Tournament had something to do with that.
The overall handle and the revenue numbers for the entire US sports betting industry are expected to take a major hit when the final numbers are revealed. April is traditionally a slow month for this industry, and things won’t pick back up again until football starts.
More Competition Coming
The New England portion of the United States has been controlled by New Hampshire and Rhode Island up to this point, but that is set to change soon. Connecticut is on a path to launching sports betting this Fall, and other states could follow as well.
Connecticut has reached an agreement with the tribal organizations in the state, and that deal was approved by the US Department of Interior as well. Both online and retail sports betting should be up and running in Connecticut prior to the start of the 2021 NFL season.
There won’t be any huge sports betting markets coming out of New England, but there will soon be plenty of competition. The launching of new sports betting markets in New England will hurt the NH numbers but could provide a boost for sports bettors as promos will be offered.