All About North Carolina Sports Betting Handle And Revenue

BetCarolina.com, your home for expertise on all North Carolina sports betting topics, has assembled this guide to explain terms such as handle, revenue and tax collections.

The state launched its legal mobile sports betting market on March 11, 2024. North Carolina has eight mobile operators offering a variety of wagers throughout the state. There are also a few retail outlets at tribal casinos in North Carolina.

To place a wager on the outcome of a sporting event, or a specific statistic within a game (this is known as prop betting), you must be physically located within the Tar Heel State. Like the other 30-plus states with mobile sports wagering, North Carolina uses geolocation technology to ensure that wagers are being placed legally within the state by a bettor who has an online account with one of the operators.

The companies offering North Carolina sportsbook apps include the major names you have probably heard of, even if you are new to sports betting. BetMGM, Caesars, DraftKings, FanDuel and ESPN BET all have North Carolina online sportsbooks. The other operators as of June 2024 are bet365, Fanatics and Underdog Sports.

Sportsbooks in the state have partnered with various pro sports teams or other entities in North Carolina that hold major sporting events. For instance, BetMGM has a deal with Charlotte Motor Speedway in Concord and Fanatics NC Sportsbook has partnered with the NHL’s Carolina Hurricanes.

You can place a wager with any of those NC sports betting companies by signing up and using your smart phone, laptop or desktop computer to wager.

North Carolina Sports Betting, August vs. July

North Carolina Sports Betting Handle and Revenue: August 2024

The rebound has started for North Carolina sports betting. According to figures released on Sept. 9 by the North Carolina State Lottery Commission, bettors wagered $370,484,774 in August. That was an 8.8% improvement on the $340,375,353 handle the state announced for July.

It’s not a coincidence that the handle jumped during the first month of preseason NFL and regular-season college football games. Those tend to be among the most popular wagering events for U.S. sports bettors.

North Carolina’s handle figures include cash wagers as well as promotional credits used. In August, bettors took advantage of $13,152,712 in bonuses, a 6% increase from July’s $12,405,039.

Though handle increased, operators reported a revenue decline in a month-over-month comparison. The $33,751,015 won by the eight licensed North Carolina sportsbooks last month was down 20.1% from the $42,226,040 they collected in July.

Subsequently, the 18% state tax on operator revenues generated $6,075,183 for North Carolina. That, too, was down 20.1% from the $7,600,687 the state received in July. Since sports betting started on March 11, North Carolina sports betting has produced $63,199,359 in tax revenue for the state.

All handle and revenue figures are from online wagering. Wagering conducted at North Carolina retail sportsbooks at tribal casinos is not counted in the Lottery’s report. The Lottery Commission does not release handle or revenue data for the licensed sportsbooks.

North Carolina Mobile Sports Betting History