New Hampshire will receive 50% of the revenue and sports betting is expected to generate an estimated $7.5m for education in fiscal year 2021 and $13.5m two years later.
Chris Sununu, Governor of New Hampshire, placed the first bet when he put money on the New England Patriots to win the 2020 Super Bowl.
DraftKings will operate as many as 10 retail sportsbook locations throughout the state.
After the US Supreme Court paved the way for states to allow sports betting in 2018, it is now launched in 14 states and approved in another six states.
Sununu said: “Sports betting is the right bet for New Hampshire.
“The launch of sports betting will also benefit our education system — a win for our kids.”
Matt Kalish, DraftKings Co-founder, said: "As a New England-based company, DraftKings is honoured to launch our American-made sportsbook product in New Hampshire for the start of the NFL play-offs."
The New Hampshire launch completes a busy month for DraftKings, which recently announced a business agreement to purchase sports betting supplier SBTech through acquisition company Diamond Eagle Acquisition Corp.
The combined company will have a market capitalisation of approximately $3.3bn.
