New Hampshire’s sports betting industry has been on the rise since its legalization in 2019. Despite the pandemic’s impact on the sports industry, the state has seen a record-breaking sports betting handle in March 2021, despite a decrease in revenue.

The New Hampshire Lottery Commission announced that the state’s sports betting handle for March was $56.2 million, a 12.5% increase from February’s handle of $49.9 million. The previous record was set in January 2021, with a handle of $59.8 million.

The sports betting revenue for March was $4.3 million, a decrease of 13.6% from February’s revenue of $5 million. However, the total revenue for the fiscal year 2021, which began in July 2020, is $31.6 million, surpassing the total revenue for the entire fiscal year 2020, which was $25.8 million.

The decrease in revenue can be attributed to several factors, including the lack of major sporting events in March and the high payout rates for bettors. The payout rate for March was 92.3%, meaning that for every dollar bet, the sportsbook paid out 92.3 cents in winnings.

Despite the decrease in revenue, the record-breaking handle shows that sports betting is becoming increasingly popular in New Hampshire. The state’s mobile sports betting platform, DraftKings, has been a significant contributor to this growth.

DraftKings has been operating in New Hampshire since December 2019 and has consistently been the top-performing sportsbook in the state. In March 2021, DraftKings accounted for $47.3 million of the state’s total handle, representing 84% of the market share.

The success of sports betting in New Hampshire can also be attributed to the state’s unique model. Unlike other states that have legalized sports betting, New Hampshire does not require a physical sportsbook location. Instead, the state has partnered with DraftKings to offer mobile sports betting, allowing residents to place bets from anywhere within state lines.

In addition to providing revenue for the state, sports betting has also created jobs and economic opportunities. DraftKings has hired over 100 employees in New Hampshire and has committed to investing $20 million in the state over the next decade.

In conclusion, New Hampshire’s record-breaking sports betting handle in March 2021 shows that the industry is thriving in the state. Despite a decrease in revenue, the total revenue for the fiscal year 2021 has already surpassed the previous year’s total. The success can be attributed to the state’s unique model and partnership with DraftKings, which has created jobs and economic opportunities for residents.