Following a three-month downward trend, New Hampshire’s sports betting market experienced a significant rebound in March, recording a 16.5% increase in its monthly handle. This uptick is predominantly attributed to the excitement surrounding the NCAA March Madness tournament. Despite the allure of the Super Bowl in February, the state’s betting handle had been on a decline, marking March’s performance as a noteworthy recovery.
Key to this resurgence was the widespread engagement with March Madness, an event that consistently draws considerable betting interest. Below is a quick comparison highlighting the month-on-month change:
| Month | Sports Betting Handle | Month-on-Month Change |
|---|---|---|
| February | Decline | – |
| March | Increase | +16.5% |
This performance signals a positive momentum for New Hampshire’s sports betting scene, potentially setting the stage for further growth as major sporting events continue to capture the attention of bettors across the state.
March Betting Figures
In March, New Hampshire’s sports betting landscape witnessed a significant surge, predominantly driven by its flourishing mobile sector. The online platforms impressively accounted for $65.0 million in wagered amounts, which represents a whopping 89.5% of the state’s total betting volume for the month. This digital dominance underscores the growing trend of bettors favoring the convenience of mobile betting. Meanwhile, the retail segment wasn’t left behind, showcasing a commendable growth of 18.8% to reach $7.6 million. This uptick in retail betting indicates a balanced ecosystem where both online and physical betting environments coexist and thrive in New Hampshire.
The performance metrics for New Hampshire’s betting sectors in March offer a clear insight into consumer preferences and market dynamics:
- Online Betting: $65.0 million (89.5% of the total)
- Retail Betting: $7.6 million (18.8% increase)
Such statistics are vital for understanding the evolving landscape of sports betting, where the convenience of mobile betting is increasingly becoming the cornerstone of growth. However, the resilience and appeal of retail betting locations remain evident, adding a vital component to the industry’s comprehensive growth narrative in New Hampshire.
Revenue Decrease
In a surprising turn of events, New Hampshire’s betting market saw an increase in overall betting handle for March, yet found its gross gaming revenue on a decline, marking a modest $5.6 million. This figure positions itself as the third-lowest revenue recorded within FY2024, sparking discussions amongst industry experts. The juxtaposition of a growing handle alongside diminishing revenue highlights underlying challenges in the state’s betting economy.
New Hampshire Betting Figures
Here’s a brief look at how New Hampshire’s betting landscape shaped up for March:
- Total Betting Handle: Increased
- Gross Gaming Revenue: $5.6 million
- Fiscal Year Standing: Third-lowest in FY2024
The fluctuating dynamics between the betting handle and the revenue have caught the eye of stakeholders, who are now keenly analyzing factors that may have contributed to this trend. While bettors continue to engage, the reduced revenue points towards possibly tighter margins or increased promotional activities aimed at maintaining market competitiveness. As the fiscal year progresses, all eyes will be on New Hampshire to see how it navigates these financial waters.
Year-on-Year Comparison
In March 2023, New Hampshire experienced a record-breaking surge in its sports betting sector, reporting a monthly handle of $103.4 million. This figure represents an impressive 42.4% year-over-year increase, underscoring a robust growth trajectory in the state’s sports betting market. Despite reaching new heights in March, the cumulative handle for the year still trails behind last year’s performance, hinting at a fiercely competitive and fluctuating market landscape.
The Gross Gaming Revenue (GGR) for New Hampshire in March notably surpassed figures from 2023, indicating a prosperous period for the state’s betting industry. This financial uptick reflects positively on the market’s capacity to generate revenue, despite facing challenges in overall annual performance when compared to the previous year.
| Year | March Handle | Yearly Cumulative Handle |
|---|---|---|
| 2022 | $72.5m | Data Not Available |
| 2023 | $103.4m | Behind Previous Year |
