New Hampshire sports betting
In New Hampshire sports betting and wagering options are available to all interested bettors living throughout the state. All this is possible through the various sportsbook mobile apps available in the state. When it comes to betting markets, this includes betting on college football and all leading professional sports.
This is with the exception of in-state collegiate games that you’ll find in New Hampshire. Players in the state also have access to retail sports betting that’s available at in-person locations as well.
Is online sports betting legal in New Hampshire?
Legal online sports betting in New Hampshire is run by the New Hampshire Lottery. This is to regulate all sports wagering within the state. The Greek company Intralot then works together with the New Hampshire Lottery by specializing in lottery administration to administer lottery-based games. New Hampshire is one of the most recent states in the US to legalize sports betting. All bettors of legal age can bet on professional sports under-regulated sportsbooks that you can find at physical locations and online sportsbooks with licensing. But despite this positive step to legalize sports betting in the state, it may take a while for operators and regulators to keep up with these changes.
This is because sports betting licenses are still in the process of being distributed. However, there is a chance that the New Hampshire betting market will consist of several retail locations and more online sportsbooks. This is so bettors can have access to sports betting on their desktops or through their mobile device apps. Most popular online sportsbooks with the necessary licensing will likely be available online. To find the best New Hampshire sports betting platforms, you can rely on expert reviews. All bettors are urged to avoid offshore sports betting sites. These platforms can be a risky option to consider seeing that they are unlicensed and unregulated.
Which betting sites are available in New Hampshire?
DraftKings is currently the only online sports betting site available in New Hampshire. The decision to secure DraftKings as the first operator in the New Hampshire market came weeks after the state received a total of thirteen bids for the five available skins. This also occurred shortly after residents in Somersworth, Berlin, Manchester, Claremont, and Laconia, took a vote for physical sportsbook retail locations to host in their communities.
DraftKings New Hampshire
DraftKings has permission to have a maximum of 10 retail locations in New Hampshire and online for bettors to wager. On the 12th of August 2020, the online sportsbooks opened its first retail sportsbook at The Brook, formerly known as Seabrook Park, based in Seabrook. This was after the casino had undergone rebranding and renovating by Eureka Casino Resorts after being purchased the previous year. Here, DraftKings is reported to host video walls, betting kiosks, and entertainment space. Immediately after launching at The Brook, there were reports from the New Hampshire Lottery saying that there had been more than 42,000 players that signed up for the sportsbook since its launch. Later, the sportsbook partnered with South Side Tavern in Manchester for its second retail sportsbook in the state.
The DraftKings sportsbook is a highly reputable sports betting site. It comes with competitive odds, and an extensive selection of sports to wager on. There are also various bet types that also include Same Game Parlays, and generous odds boosts and promotions. Plus bettors can look forward to a user-friendly interface offering a commendable betting experience. All players will have the same experience whether they are accessing the sportsbook through the sportsbook’s website or mobile app. Like most online sportsbooks that are in the same league as DraftKings, the operator regularly provides its players with ongoing odds boosts and promotions like ways to get free bets, parlay insurance, and more. This way players have the opportunity to take advantage of the several options in place to maximize winnings.
It’s advisable that you go through the DraftKings terms and conditions. Do so thoroughly before proceeding to sign up. Should you require any assistance, be sure to make use of the various support channels in place to speak to an agent.
How much revenue does sports betting bring in NH?
According to research, $11.35 million in revenue is predicted in the initial forecasts of sports betting in New Hampshire. This figure is in annual state revenue from sports betting in New Hampshire as of 2021.
Timeline of sports betting in New Hampshire
The relationship between online sports betting and New Hampshire hasn’t been a smooth one over the years. There have been many attempts to legalize sports betting and online sports betting, and only in recent years has New Hampshire seen success in its efforts to legalize it.
In 2016, the state saw many casinos opening their doors for business and a large percentage of their revenue would be donated to charities. The following year, New Hampshire temporarily lifted their ban on poker and online casinos only to reintroduce it roughly 10 months later.
2019 saw quite a lot of events taking place in sports betting in New Hampshire. This year, the state legalized sports betting after the governor, Chris Sununu, signed a bill that legalized sports betting. This allowed bettors the option to place bets online through a desktop or mobile betting app access, or to do so in person at selected physical locations. The very first bet was placed by Sununu himself on the 30th of December 2019.
In the same year, DraftKing’s top Sportsbook was selected as the first mobile sports betting operator with permission to operate in New Hampshire. This was after a competitive bidding process that took place throughout the state. This meant that the former DFS giant was now responsible for paying close to half of its revenue to the state as part of its agreement. It was only in 2020 that the state saw an actual launch date take place for mobile sports wagering.
A breakdown of taxes on sports betting winnings in New Hampshire
In 2009, tax laws in New Hampshire relating to sports betting set a 10% tax on any and all gambling winnings. According to RSA 77:38, III, gambling winnings are defined as winnings that players receive from lotteries and games of chance. These include, but are not limited to, slot machines, bingo, poker tournaments, and all other winnings that are subject to federal income tax withholding. When it comes to new residents in New Hampshire, the tax on gambling winnings is a tax that applies to all gambling winnings that they’d get from anywhere. For New Hampshire residents that aren’t new to the state, the tax is only imposed on gambling winnings derived from entities in the state. The New Hampshire Charitable Gaming and Racing Commission and the New Hampshire Lottery Commission are responsible for withholding all taxes owed to the state. And they are also payable to New Hampshire from any payout derived from gambling winnings.
Should the tax not be withheld by both commissions, the taxpayer will be required to settle this amount directly to the state. All tax payments are to be made by the taxpayer. This should be on or before every year’s April 15th with the Gambling Winnings Tax return filing. In 2010, an exemption was launched for gambling winnings won before the 1st of January 1999 and shared in annuity payments. All this is stated in Chapter 371, Laws of 2010. This was effective as of the 23rd of July 2010. With the set percentage that DraftKings offered to pay for its mobile sports betting revenue, it would drop from 51% to 21% if two or three operators were to join the market. Should the state allow for four or five operators to join the market, the percentage will drop to 16%.
ROAR is a joint venture between GVC and MGM, and during the bidding process, it offered only 20% in revenue tax. If you were to assume that the state isn’t planning on initiating a monopoly situation, the mobile sports betting tax blend equivalent rate should remain between 15% and 20%. This rate should encourage most sports bettors to play at legal sites so operators can also generate maximum revenue. When it comes to retail sports betting, the DraftKings sportsbook chose an offer of 40% irrespective of how the number of licenses being issued.