Sports betting trade reported by licensed operators in New Hampshire in October was the second-highest since the beginning of the year, based on details released by the state’s gaming regulator.
Combined Betting Handle hits $91.3 million in October
The New Hampshire Lottery, the state agency charged with regulating sports betting, has released its latest report showing that combined retail and online sports betting trades reached $91,345,018 last month. That result marked the second-highest wager since the start of the year, surpassed only by the record $99.5 million reported in January.
Betting revenue over the past month marked a sharp increase of almost 17% compared to the $78.2 million in combined betting revenue reported a month earlier in September. October’s $91.3 million in bets equated to $9.1 million in Gross Gaming Revenue (GGR). This result marks another increase compared to the GGR of $7.4 million reported in September. Considering the tax rate for sports betting activities, the $9.1 million in GGR generated $4.5 million in revenue for the state. That result, too, was an increase considering the state’s revenue for September was $3.2 million.
Although last month’s bet amount was the second highest of the year, the result did not surpass the bet amount reported in October 2021. Last year in October, the combined bet amount reached $98.2 million, meaning this year’s October handle was down almost 7%. Despite the higher betting supply as of October 2021, GGR stood at $5.4 million at the time while the state made just $2.6 million in revenue.
Retail bookmakers enjoy record GGR
The New Hampshire Lottery released a breakdown of the $91.3 million in wagered revenue reported in October. It’s no surprise that the lion’s share of the betting business has been in the hands of mobile sportsbooks, which reported $68.2 million in betting deals last month. This result represented an increase of nearly $10 million compared to the $58.5 million reported in September. The GGR for mobile sportsbooks hit $6.6 million last month, generating $3.4 million in revenue for the state.
On the other hand, the bet amount reported by retail bookmakers last month was $23.1 million. October saw strong growth compared to September’s $19.8 million result. More importantly, the GGR for sportsbooks hit $2.5 million last month, marking the highest GGR in the last year. As a result of the high GGR, state revenue also increased, reaching $1.1 million in October, again the best result recorded in the last year.