FILE - Las Vegas sportsbook, sports betting, gambling

Gov. Chris Sununu signed legislation Friday that legalizes sports betting in New Hampshire.

“Sports betting is the right bet for New Hampshire,” Sununu said in a news release announcing the signing. “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.”

According to a fiscal note attached to the legislation (HB480), taxes on sports wagering are expected to bring in about $10 million in new revenue in Fiscal Year 2021 and a little more thn $11 million by FY 2023.

Sports betting will be available at up to 10 brick-and-mortar locations in the state and to online gamblers. The first sports bets aren't expected to be made until next year.

The state Lottery Commission will oversee sports gambling.

“Sports betting represents an exciting new chapter for the New Hampshire Lottery and our loyal players,” Charlie McIntyre, executive director of the New Hampshire Lottery, said in a statement. "The New Hampshire Lottery is well-positioned to strategically administer sports betting to maximize revenue and to protect our consumers.”

Rep. Timothy Lang, R-Sanbornton, was the primary sponsor of the legislation. He said legal sports betting will benefit all New Hampshire residents.

"It’s not often you get a win like this," he said in a statement. "This is a win for the citizens of New Hampshire who will now have increased consumer protections and increased liberties, it’s a win for New Hampshire businesses as it provides more business opportunities throughout the state, it's a win for the State of New Hampshire as it grows our already booming economy even further, and it’s a win for our children as the money raised from this bill will be used for education funding."

The measure prohibits betting on New Hampshire college teams or any college games being played in the state.