The state’s Executive Council is set to meet in Concord Monday with Gov. Chris Sununu to finalize the DraftKings’ contract, essentially giving the sportsbook a monopoly on the state's brick-and mortar and online betting platform through 2026, with two optional two-year extensions.
DraftKings, The Brook and the New Hampshire Lottery Team Up to offer a Premier Sports Betting Experience. Boston, MA and Seabrook, NH (August 12, 2020) – Today, DraftKings Inc. (Nasdaq: DKNG), The Brook and the New Hampshire Lottery announced the opening of the new, state-of-the-art DraftKings Sportsbook. New Hampshire became the 16th state to legalize sports betting on July 12, 2019 and officially went live on December 30, 2019. Anyone who is at least 18 years of age, has a valid United States Social Security Number and is physically within the state of New Hampshire can bet with DraftKings Sportsbook there.
In a statement from DraftKings, they said, “DraftKings is proud to be selected to offer mobile and retail sports betting in New Hampshire. We look forward to soon providing sports fans in the Granite State with our best-in-class mobile and online Sportsbook product, and welcoming them into our dynamic retail sportsbooks.”
“DraftKings will continue to collaborate closely with the New Hampshire Lottery Commission towards our mutual goal of bringing fun, safe and responsible sports betting to New Hampshire.”
How did DraftKings win exclusive rights?
13 vendors submitted proposals for its retail and lottery-run operations. DraftKings and ROAR made the final cut with DraftKings offering 50 percent of its gross gaming revenue for exclusive rights to be the only retail and mobile operator in New Hampshire. ROAR came to the table offering 20 percent to be the exclusive online provider and 11 percent to be the only retail operator.
The New Hampshire lottery commission’s executive director to the Council, Charles McIntyre, on the contract reward said, 'DraftKings price proposal as a sole provider of the mobile and retail channel delivered more than three times the percentage of revenue to the State than would be derived from a multiple agent market.”
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The promise of a bigger piece of the revenue pie was a determining factor in New Hampshire. That model threatens to become the model for future Sportsbook proposals as various states award contracts going forward. Of note, DraftKings also scored best for mobile and retail operations of any of the other 13 proposals. DraftKings scored 810 points in the mobile segment and 790 points in the retail segment out of a possible 1,000.
When can we expect to see DraftKings fully operational?
DraftKings' launch is expected to come quickly in New Hampshire despite the number of hurdles they will still have to clear. Various approvals are still outstanding, including votes in some jurisdictions in the state.
Associated Press is on the board with a prediction that mobile betting in New Hampshire could become reality by January, in time for the NFL Playoffs with retail books having to wait to launch until late winter or early spring.
Is there any future competition for DraftKings in New Hampshire?
The simple and short answer is “Not really”.
Intralot already holds a state contract to manage other lottery operations through 2025. They scored 140 points better than DraftKings in that space but the contract limits their ability to provide single-game or live in-game betting opportunities. Intralot will only be allowed to provide lottery-based sports betting under the newly laid-out provisions.
The state’s Executive Council will meet to discuss amending Intralot's existing contract to offer sports betting through the lottery. Hugo 2 slot. It isn't clear what will come out of the meeting but Intralot is expected to retain their lottery-based betting platform for now.
Draftkings Sportsbook New Hampshire
What does it all mean for DraftKings and New Hampshire?
Generally, states have taken to an open, competitive marketplace in order to maximize revenues for the states themselves and the companies vying for coveted contracts. But New Hampshire seems to have gone in the opposite direction.
Draftkings Sportsbook New Hampshire Game
It's a boon for the Boston-based sports entertainment company to gain exclusivity in the state and New Hampshire bettors should be well-served by the experience and broad reach of DraftKings’s platform. It appears that New Hampshire was measured in their approach to rewarding the exclusive contract and that the state's due diligence will provide what DraftKings promises to deliver, 'fun, safe and responsible sports betting to New Hampshire.”