New Hampshire has become the latest US state to legalize sports betting after Governor Chris Sununu signed House Bill 480 into law.
The bill was introduced in January and went on to secure approval in the House and Senate, but was last month subject to a number of amendments as lawmakers sought to iron out issues before passing it on to the Governor.
With Sununu having signed off on the bill, the state Lottery Commission will now launch a request for proposal to select online and retail sports betting vendors. It is hoped that partners could be in place by January 1, 2020, with a view to opening the market by July 1.
These partners would enter into revenue sharing agreements to ensure the state sees a return from legal wagering. Based on an average industry hold of 5%, it is estimated that the state could raise $11.3m (£9.0m/€10.0m), from stakes of $225.0m in its 2021 financial year, rising to $11.8m, then $12.5m by FY2023.
“Sports betting is the right bet for New Hampshire,” Sununu said. “With the exciting new addition of sports betting, the New Hampshire Lottery will continue to drive critical revenue, putting even more money into our educational system.
“Today’s action will provide financial support and important resources to help our public education system, which will benefit every child in every school across the state — a win for New Hampshire.”
The number of mobile betting operators permitted in New Hampshire will be limited to five, while a maximum of 10 retail sportsbooks will be allowed operate at any time.
Other key measures in the bill include the New Hampshire Lottery Commission having the right to set daily, weekly and monthly spending limits for players, as well as launching a self-exclusion system for players.
Remote registration will be permitted in New Hampshire – to players who are at least 18-years-old – while in-play betting will be available online.
The bill also establishes the Division of Sports Wagering, a unit within the New Hampshire Lottery Commission that will be handed oversight of the sector, including selecting the state’s sports betting vendors.
In addition, the state will now form the Council for Responsible Gambling, a five-person body comprising experts in addiction or mental health services to help promote education, prevention, and treatment of problem gambling in the state.
A total of 17 US states have now either launched legal sports betting or passed laws to permit such activities.