This article was created by AI using a video recording of the meeting. It summarizes the key points discussed, but for full details and context, please refer to the video of the full meeting.
Link to Full Meeting
The New Hampshire House Finance Division recently discussed the state’s sports betting and iLottery revenue, highlighting the significant impact these activities have on local finances and community engagement.
During the meeting, officials revealed that approximately 85% of sports betting occurs online, with only 15% taking place at physical sportsbooks. This shift towards mobile betting has been beneficial for the state, especially during adverse weather conditions when residents prefer to place bets from home. The iLottery, which allows residents to purchase tickets for games like Powerball and Mega Millions online, also contributes significantly to state revenue.
A key point of discussion was the effectiveness of the geofencing technology used to ensure that only in-state residents can place bets. This system, managed by GeoComply, has been designed to block wagers from individuals located outside New Hampshire, even if they are close to the state border. Representatives noted that while the technology is robust, there are occasional frustrations for users near the border who experience difficulties placing bets.
The financial implications of sports betting are noteworthy. New Hampshire ranks second in the nation for per capita sports betting revenue, trailing only New York. The state receives about 43% of the profits from bets placed, which has led to a significant influx of funds. Additionally, the partnership with DraftKings has resulted in job creation, with the company establishing an office in Nashua and hiring local software developers.
The discussions underscored the importance of regulated betting as a means to provide residents with a safe and legal avenue for gambling, contrasting it with unregulated options that lack consumer protections. As the state continues to navigate the evolving landscape of online gambling, the outcomes of these discussions will likely influence future policies and community benefits.
Converted from House Finance Division II (02/21/2025) meeting on February 22, 2025
Link to Full Meeting