The New Hampshire Lottery, the regulator in charge of sports betting in the state, revealed that the combined betting handle by retail and mobile sports betting hit $97.2 million in January. Although this result didn’t mark a record, it was still the highest wagering handle reported for the last six months.
More importantly, the $97.2 million in combined sports betting handle translated to $12.3 million in GGR last month. This result, when compared to the $8.3 million reported for the last month of 2022, December, marked a significant increase. Additionally, a year-over-year comparison to the January 2022 result also marked a significant increase of nearly 54%.
Currently, online sports betting operations are taxed at 51% of sports betting revenue, while retail sports betting is subject to a 50% tax in New Hampshire. According to the latest report released by the New Hampshire Lottery, the $12.3 million in GGR resulted in a total of $5.6 million in proceeds for the state in January.
This result also marked an increase considering that a month earlier, in December, the state’s share was only $3.8 million. Similarly to GGR, the $5.6 million in proceeds for the state was the best result in the last six months.
Retail and Mobile Betting GGR Increases
Generally, mobile sports betting brings more proceeds when compared to retail betting activities and New Hampshire is no exception. The $97.2 million in betting handle reported last month breaks down to $75.2 million in mobile betting handle and $21.9 million in retail betting handle.
Not unexpectedly, the GGR for both retail and mobile sports betting marked an increase. Back in December, the retail betting GGR was only $389,635, bringing the state $126,927 in proceeds. In contrast, GGR reported a month later, in January, was $4.3 million, marking the best result for the last six months. The $4.3 million in retail sports betting GGR translated to $1.9 million in proceeds for New Hampshire for January.
Mobile sports betting also enjoyed an outstanding performance last month. In total, the mobile betting handle of $75.2 million resulted in $8 million in GGR. This marked a strong result, considering that GGR has been around the $6 million mark in the last months. The share of New Hampshire from sports betting last month was $3,666,572, which came close to the December result which was $3,682,445.