The sports betting handle reported by licensed operators in New Hampshire in October marked the second highest since the start of the year, judging by details released by the gambling regulator in the state.
Combined Betting Handle Hits $91.3M in October
The New Hampshire Lottery, the authority tasked with the regulation of sports betting in the state, has announced its latest report, outlining that the combined retail and online sports betting handle last month hit $91,345,018. This result marked the second-highest betting handle since the start of the year, surpassed only by the $99.5 million record reported in January.
The betting handle last month marked a strong increase of nearly 17% when compared to the $78.2 million in combined betting handle reported a month earlier, in September. The $91.3 million in betting handle from October translates to $9.1 million in gross gaming revenue (GGR). When compared to the $7.4 million in GGR reported in September, this result marked another increase. Considering the tax rate for sports betting activities, the $9.1 million in GGR brought $4.5 million in revenue for the state. This result marked an increase as well, considering that back in September, the revenue for the state halted at $3.2 million.
Although the betting handle last month was the second-highest for the year, the result didn’t surpass the betting handle reported in October 2021. Last year in October, the combined betting handle hit $98.2 million, which means that this year in October, the handle was down by nearly 7%. Still, despite the higher betting handle from October 2021, back then, GGR halted at $5.4 million, while the state collected only $2.6 million in revenue.
Retail Betting Operators Enjoy Record GGR
The New Hampshire Lottery released a breakdown of the $91.3 million in betting handle reported in October. It’s no surprise that the lion’s share of the betting handle was in the hands of mobile sports betting operators who reported $68.2 million in betting handle last month. Compared to the $58.5 million reported in September, this result marked an increase of nearly $10 million. The GGR for mobile sports betting operators last month hit $6.6 million, which brought $3.4 million in revenue for the state.
On the other hand, the betting handle reported by retail betting operators was $23.1 million last month. When compared to the $19.8 million result in September, strong growth was observed in October. More importantly, GGR for retail sports betting operators last month hit $2.5 million, marking the highest GGR in the last year. As a result of the high GGR, the revenue for the state increased as well, hitting $1.1 million in October, again, the best result recorded in the last year.