New Hampshire Governor Chris Sununu has signed a bill legalizing sports betting in the state at both physical sports books and through online mobile apps.
Though a launch date has not been set, Sununu said he wants to be a part of the festivities when sports betting begins.
Sununu declared, “We can do it with a lot of confidence because it’s being done responsibly, and it’s being done with an organization here at the lottery that just knows what they’re doing. They know how to get this stuff off the ground.”
“The only rule is, I want to place the first bet,” Sununu told the Associated Press.
Actually, the law prohibits betting on New Hampshire college teams and the state will limit the number of sports betting licenses to 10 for physical locations and five for mobile apps. New Hampshire is projecting that sports betting will produce an estimated $7.5 million for education in fiscal year 2021 and $13.5 million two years later. The state Lottery Commission will regulate the new industry.
The bill allows for stand-alone online sportsbooks and does not require operators to partner with a physical sportsbook. Analysts expect former DFS giants and now major sports betting brands DraftKings and FanDuel will both apply for licenses under this provision.
The New Hampshire Lottery will regulate sports betting and will also be able to offer sports betting games.
State lottery officials estimate that sports betting will bring about $10 million during the first year of operations. The funds will be earmarked for education.
Sports betting will be operated by the state lottery commission and be available both on mobile wagering platforms and at retail locations.
New Hampshire Lottery Director Charlie McIntyre told the New Hampshire Union Leader there are just a few vendors who are capable of running sportsbooks. “This is not for the faint of heart, in terms of the businesses who engage in this. They know what they’re doing.”
McIntyre, who made his legal chops as a prosecutor fighting organized crime, including mob-owned bookie operations, said one goal of the lottery “is to just migrate this from the illegal market that exists already.”
He also anticipates that sports betting will generate economic opportunities and encourage new betting operations to move into the market.
The lottery itself just completed a banner year, collecting more than $384.2 million in total sales and funneling more than $100 million into schools. This was a 15 percent increase over the previous fiscal year.
Sununu said it’s likely that sports betting will appeal to a different clientele from keno, which was unveiled last year in the state and brought in almost $27 million in gross sales at the end of the fiscal year.
The bill’s author, Rep. Timothy Lang, who joined the governor for the official signing ceremony held at lottery headquarters in Concord declared, “I’m happy that we’re bringing an illicit activity into the light for our citizens of New Hampshire and allowing for some consumer protections.”
The state does not have casinos, but sports “lounges” will be legal within the state and can placed within existing businesses, including bars or resort hotels. Municipalities have the right to approve having a sports lounge within its borders.
Before a launch date can be set, the lottery must develop regulations and prospective licensees will have to go through a Request for Proposal process. Also, physical sportsbooks would have to be constructed.
The law mandates that the state create a division of sports wagering to enforce the law. It also creates a Council for Responsible Gambling that will be funded with $250,000 a year collected from sports betting taxes. It will recruit from persons “qualified in the field of addiction or mental health services with a focus on problem gambling.”
