Sports Betting Contributed $100M To New Hampshire Education

• New Hampshire public education received $100 million from sports betting revenue in the last four years.
• The New Hampshire Lottery reported more than $2.71 billion worth of wagers since launching legal sports betting four years ago.
• Sports betting generated $505.96 million in tax revenue nationwide, which goes towards funding education, infrastructure, health care, and Veterans’ assistance.

CONCORD, N.H. – Many New Hampshire residents were skeptical of the negative repercussions of launching legal sports betting four years ago. Since then, New Hampshire public education received more than $100 million in legal sports betting tax contributions.

An annual report from the New Hampshire lottery also showed an increase of $43 million to the public education fund from lottery games like scratch-off tickets and horse racing. Sports betting contributed $36.7 million in 2023, an increase of $13.6 million from the prior year.

Retail sports betting made up 14.6% of the total New Hampshire sports betting revenue across three brick-and-mortar locations. The first retail New Hampshire sportsbook opened at The Brook in Seabrook, followed by the two Filotimo sportsbook locations in Manchester and Dover.

Sports Betting Revenue Impact Made Outside Of New Hampshire

Taking a look into the nationwide quarterly tax revenue tables provided by the United States Census Bureau shows it’s not just New Hampshire reaping the benefits of legal sports betting. New York collected $188.53 million in the third quarter of 2023 (July, August, September), which is the most recent version of the Quarterly Survey of State and Local Tax Revenue (QTAX) available.

They made up a large chunk of the $505.95 million in sports betting revenue nationwide across the 2023 third quarter. New York’s whopping 51% tax rate is much higher than any other states close in population, but nearly 95% of their sports betting tax revenue is used for educational purposes.

That large distribution translated to $4.6 billion in contributions towards New York education in fiscal year 2022-2023. The report from the New York State Comptroller Municipalities received $107.2 million and $134.7 million were contributed to “other”.

News tags: New Hampshire | New Hampshire Lottery Commission | New York | United States Census Bureau