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Tag: north carolina sports betting

March 11, 2025

Happy anniversary! North Carolina’s first year of sports betting in line with other states its size

Tuesday (11 March) marked a year since North Carolina launched sports betting and its regulator shared a snapshot of what the first twelve months looked like.

According to the North Carolina State Lottery Commission, operators took $6.6 billion (€6.1 billion/£5.1 billion) in bets during the first 12 months. The commission released an anniversary report describing the numbers from the first year, problem and responsible gambling initiatives and how legalisation and launch happened.

According to the report, operators collected $713 million in gross gaming revenue (GGR) and paid the state $128 million in taxes. The state charges an 18% tax on GGR.

The numbers fall in line with other states of similar size and situations. North Carolina has a population of 11 million people, several big-time college football and basketball teams, three major professional sports teams and multiple NASCAR venues.

For comparison, in Ohio (population: 11.8 million), the Ohio Casino Control Commission launc..

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January 20, 2025

North Carolina wagering operators report lowest hold since launch

North Carolina bettors laid down more than $600 million (£493 million/€584 million) in wagers for the third consecutive month in December, according to the latest revenue report from the North Carolina State Lottery Commission released on 17 January.

However the high amount bet didn’t translate into a record month for operator revenue or tax revenue as sportsbooks had their lowest hold since launch in March 2024. The 5.8% win rate marked only the third time that operators had a hold of less than 10% in North Carolina.

In December, consumers placed $629.5 million in bets, the third-most of any month since legal betting went live. Of that, bettors won back $590.9 million and operators reported $35.7 million in gross gaming revenue (GGR), the second-lowest GGR in history. Sportsbooks wrote off $16.4 million in promotional play.

North Carolina taxes sportsbooks at 18% of GGR, and operators contributed $6.4 million to state coffers, the second-lowest since launch. For comparison, the ..

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November 13, 2024

North Carolina in October: Revenue plummets while handle rises

October marked the first full month of football for North Carolina digital sportsbooks – and revenue dropped $21.4 million (£16.6 million/€20.2 million) despite handle rising $36.6 million against September.

According to the North Carolina revenue report released today (12 November), the differentiator was hold, which was the lowest since sports betting went live in North Carolina. In September, sportsbooks had a 12.2% hold rate, but in October that number dropped to 8%. Operators across the US have lamented a tough October with bettor-friendly results during quarterly earnings calls.

In North Carolina, which launched sports betting operators in March, October was the first full month with football games every week. The NFL season kicked off on 5 September, meaning that the first Sunday of that month had no games.

With regard to hold, North Carolina operators have eclipsed double-digits in six of the eight months since launch. August and October are, so far, the only sub-10% hold..

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September 9, 2024

North Carolina operators in August record lowest hold since launch

In August North Carolina operators had single-digit hold for the first time since platforms launched in March. The Tar Heel State's eight operators took $370.5m in bets in August and had a win rate of 9.1%.
Operators paid a total of $6.1m (£4.7m/€5.5m) to the state in taxes, according to the report released on Monday (9 September) by the North Carolina Education Lottery.

North Carolina operators took less money in bets – $340.4m – in July, but had a 12.4% hold, the second-highest in six months since launch. In July, operators paid the state $7.6m in taxes. North Carolina charges online operators an 18% tax on digital sports betting.

In August, the gross wagering revenue was $33,751,015. NC law defines gross wagering revenue as handle minus winnings. Gross wagering revenue is derived before deductions for expenses, fees or taxes. According to the report, North Carolina operators had $13.6m in promotional play and cancelled or voided $3m in bets.

Nearly $3bn in bets in first ..

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