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North Carolina Bettors Wager Over $1 Billion in First Months of Operations

SBC AMERICAS (May 20, 2024) Players in North Carolina have wagered well over $1 billion since the launch of online sports betting in the state.

According to data provided by the North Carolina State Lottery Commission (NCLC), operators in the Tar Heel State reported a total online sports betting handle of $648.9 million in April, the first full month of operations.

Combined with a handle of $659.3 million in March, so far players have bet $1.3 billion and generated winnings of $1.1 billion.

Although April’s handle was down slightly compared to March, wagering figures include bets placed using promotional offers from operators. In April operators scaled back promotions, writing off $79.7 million in promos compared to the just over $202 million worth of promotional bets that were handed out in March.

The opening weeks of online sports betting in the state were also boosted by coinciding with March Madness, which featured Duke, NC State, and UNC. Across the U.S., sports betting handle often suffers in April after the tournament comes to a close. 

The state’s sportsbooks generated $105.3 million in gross wagering revenue in April, and so far they have netted $171.7 million in revenue since launch. 

bet365, BetMGM, DraftKings, ESPN Bet, Fanatics Sportsbook, FanDuel and Underdog all received licenses from the NCLC to operate in the state. Each operator had to partner with a pro sports team or venue to gain access to the state.

Caesars Sportsbook is also authorized to operate in North Carolina through its supplier license in partnership with the Eastern Band of Cherokee Indians. 

As of yet, the state has not broken down its revenue numbers by operator or sport.

An 18% tax rate is levied on gross gaming revenue, meaning the state’s Department of Revenue collected $18.9 million in tax revenue from operators. It is estimated that online sports betting could generate North Carolina $64 million in tax revenue in 2024.

A portion of tax revenue from online sports wagering in North Carolina is distributed to a number of organizations. This includes the Department of Health for gambling addiction education and treatment, the collegiate athletic departments of 13 in-state universities, and the National Carolina Youth Outdoor Engagement Commission.

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