New Hampshire, the recent state to legalize sports betting on Friday morning, after Gov. Chris Sununu signed H 480 bill and said he is eagerly waiting to place his first bet.
His approval will take this state on the sixth position to have legal sports betting along with the other nine states that have regulated industries up and running, and another seven have a pending launch, including Washington DC.
All this could happen by Christmas as per the Debra Douglas, who chairs the state lottery commission.
These new operations will regulate by the commission, by contracting the vendors who will be offering sports wagering both through the mobile wagering platforms and in retail gambling at 10 locations will be allowed, but all this will take time to set up.
Moreover, the commission is expected a big revenue windfall and estimated $7.5 million through wagering for education till 2021 and after two years $13.5 million.
Charlie McIntyre stated that “the budget has $ 10 million in two years, and this $10 million is profit projection, which he can hit comfortably.”
Many opponents argued on this that sports betting could be a problematic revenue source, including alcohol and cigarettes, called “sin taxes.” But supporters argued that It would curb black market activities and It would also provide support to the problem gamblers.
Rep. Timothy Lang and R-Sanbornton, the bill’s prime sponsor, said that he is glad to bring illicit activity into the light for citizens of NH and allowing for some consumer protections, and it is a win for residents, communities the state and public education.