Governor Chris Sununu placed the first sports bet on his cell phone on Monday, December, 30, 2019. The New Hampshire Lottery Commission (NHLC)is in charge of the newly launched sports betting in the state. The NHLC reported on Wednesday, January 1, 2020, that the results have been better than originally expected. More than seven thousand people have already registered for online sports betting accounts. A few thousand people lined up on New Year’s Eve to open up new accounts.
On Monday the Republican Governor Chris Sununu appeared at a launch event. He placed the first sports bet on his own cell phone, after he registered for sports betting account. He placed a bet for the New England Patriots to win the Super Bowl in February. New Hampshire is the second state in New England that now has legal sports betting. Rhode Island launched sports betting in the fall of 2019. There have been almost $300,000 sports bets taking in New Hampshire in just two days.
The New Hampshire Lottery Commission Says Massachusetts Residents Are Signing Up
The New Hampshire Lottery Commission says that they noticed many residents of Massachusetts have crossed state lines, They crossed over in the last 2 days to register and get online sports betting accounts and place bets in New Hampshire, which is allowed. As long as you’re physically in New Hampshire to place the bet, then it’s allowed. Since Massachusetts and other New England States like Connecticut do not have sports betting New Hampshire and Rhode Island will reap the rewards.
The NHLC weighed in on the early numbers, they called the turnout of people registering ‘very promising.’ The NHLC’s Senior Director, Charlie McIntyre, said, “clearly there is a strong consumer demand that will only grow as we market this new exciting product.” New Hampshire has partnered with sports betting giant DraftKings for a 6 year contract. The contract puts Draftkings as the official sports betting provider for the state of New Hampshire. Anyone `18 years of age or older can sign up and register for a sports betting account.
The Sports Betting Bill Gives New Hampshire 50% Of All Sports Betting Profits
According to the New Hampshire Sports Betting Bill, the state takes in 50% of all sports betting profits. The predictions for the amount of revenue that sports betting will bring into the state is $7.5 million for education by the end of the fiscal year in 2021. The profits two years later are expected to be in excess of $13.5 million, and the profits are earmarked for the educational system in New Hampshire. With the Supreme Court ruling of 2018 that lifted a nationwide ban on sports betting. The industry is expected to continue to explode nationwide in 2020 and beyond. Legalized sports betting is currently up and running in 14 states, with about 8 more expected to launch in 2020.
Check out previous article about Nevada’s success!