New Hampshire Launches Sports Betting

New Hampshire Launches Sports Betting

This week saw the second New England state launch sports betting operations. New Hampshire became the latest to join the club of states that have launched sports betting in their jurisdictions.

This week state’s Republican Governor Chris Sununu placed the first and historic bet in New Hampshire’s gambling history. He wagered on the New England Patriots to win the Super Bowl.

The state governor wagered $82 on his phone at a sports bar in Manchester. The bet marked the launch of sports betting operations in New Hampshire. New Hampshire voters earlier approved sports betting on both online and on mobile devices.

Following the legalization of sports betting, New Hampshire Lottery signed a six-year contract with betting operator DraftKings to launch both in-person and online sports betting operations.

According to the sport gambling regulations in the state, anyone above the age of 18 is allowed to wager. The state can also have licensed retail betting facilities.

New Hampshire Lottery estimates that with the launch of sports gambling, the state would benefit from additional tax revenue to the tune of $7.5 million in the fiscal year 2021.

The funds would go towards education programs in the state. After two years of the launch of sports betting in the state, it is projected that the revenue from sports gambling operations would be around $13.5 million.

“Sports betting is the right bet for New Hampshire,” Sununu said in a statement. “The launch of sports betting will also benefit our education system — a win for our kids.”

It was in November that the state lottery approved the deal with DraftKings. The current gambling tax regime allows the state to keep 50 percent of the sports betting revenue generated annually.

The contract between DraftKings and the New Hampshire Lottery was approved in late November by Executive Council, which advises the governor. New Hampshire will receive 50% of sports betting revenue.

In a statement to the press on the launch of sportsbook in New Hampshire, Matt Kalish, chief revenue officer, and co-founder, DraftKings, “As a New England-based company, DraftKings is honored to launch our American-made sportsbook product in New Hampshire for the start of the NFL playoffs.”

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