Sports betting in dedicated retail outlets could be coming to the US for the first time in New Hampshire should a new bill HB 480-FN gain approval by policy makers in the state. In its summary, HB 480-FN noted: “This bill authorizes the Lottery Commission to conduct sports betting directly or through an authorized agent via the use of mobile internet devices and through physical sports book retail establishments.”
The bill, which is expected to be passed on or before July 1 2019, effectively paves the way for the introduction of premises that could be similar in style and operation to UK high street betting shops. They will be overseen by a new Division of Sports Wagering.
Said the bill: “The commission and its agent may operate physical sports book retail locations within the state for the purposes of accepting and paying prizes relating to sports wagers. The sports book retail locations may be co-located with other commercial businesses or general commercial retail locations.”
It added: “The request for proposal (RFP) process will result in a contracted Sports Betting Agent on or before January 1, 2020 with the first sports wagers being offered around July 1, 2020.”
User migration from illegal sports wagering will gradually migrate to legal sports betting over several years, said the bill, and the number of sports wagering channels will gradually increase over the first few years. “Due to the gradual increase in sports betting over time, revenue will be 35 percent of potential in FY 2021, 50 per cent of potential in FY 2022, 65 percent of potential in FY 2023, and full potential revenue will not be reached until year FY 2025,” it outlined.
Full potential of sports betting revenue is estimated in the bill by producing a conservative estimate of total illegal sports betting dollars in America using industry estimates of $40-80bn nationally and developing a per capita number for the country of $106 to $216 ($40-80bn over 370 million people in America equals $106 to $216). The per capita range, when applied to 1.3 million NH residents equals total sports betting in New Hampshire of approximately $140m to $280m.
