Sports Betting
In September, North Carolina Sportsbooks reported a handle of $575.4 million
Zach Wolpin is an NBA and NFL expert who's been betting on the league for over three years now. Wolpin is a fan of the NFL and NBA and has been watching for a decade and a half. He covers the latest news and stories surrounding the league daily. His passion in life is sports and being able to share that through his writing. He has written about the NBA and other sports leagues through various media outlets over the years like Sir Charles In Charge, G-Men HQ, and TAP into South Plainfield. Before he became a Sports Editor, Wolpin attended Montclair State University where he graduated in 2021. He studied Sports Media and Writing while in school.
Get to know Zach Wolpin betterPublished3 hours ago on October 10, 2024
Commercial sports betting was finally legalized in North Carolina in March 2024. August was the first month that residents could bet on college football and the NFL preseason. After revenue was down in August, the state was able to bounce back in September. This was their first full month of college football and the NFL. The North Carolina Lottery Commission reported that online sports betting operators generated $575.4 million in handle, up 55% month over month.
Additionally, they produced $70.6 million in gross revenue in August. Double the gross revenue operators saw in August. Promotional wagering jumped to $37 million in September compared to the $23 million in August. Online sports betting added roughly $12.6 million in tax revenue for North Carolina state coffers. In NC, there is an 18% tax rate and that’s generated $75 million for the state since sports wagering was first legalized.
Online wagering has taken over for North Carolina sports betting
The $575.4 million handle in September was the first time since May’s $525.4 million that North Carolina went over $500 million. During the summer, the state’s smallest handle was $340 million in July. The revenue and handle that North Carolina produced in September is more indicative of what online wagering can be in the state. When sports betting first became legal in North Carolina, there was an overwhelming amount of wagers.
There was $659.3 million worth of wagers in March and $648.9 million in April. However, that was helped by the eight online operators in the state with $280 million in promotional spending. The online operators in North Carolina include FanDuel, DraftKings, BetMGM, Caesars, Fanatics, bet365, ESPN BET, and Underdog Sportsbook. North Carolina’s launch in March also lined up with the NCAA tournament for men’s and women’s college basketball.
Retail sportsbooks could be on their way in North Carolina
Online sports betting has been North Carolina’s main focus since its launch in March 2024. While online wagering is highly successful, the state could look to expand to retail sportsbooks and pari-mutuel wagering. In September, the Lottery Commission approved compliance measures to start adding brick-and-mortar casinos in NC. They want these to be adjacent to select sports venues in the state. Including Bank of America Stadium and PNC Arena. There is currently no timeline for when retail sportsbooks could launch in North Carolina.
