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, May vs. April

 

Total handle

Revenue (GWR)

May

$525.549M

$63.080M

April

$648.934M

$105.252M

Change

Down 19.0%

Down 40.1%

North Carolina Sports Betting Handle and Revenue: May 2024

North Carolina sports betting slowed in May, but the revenue report released by the state Lottery Commission shows the honeymoon is far from over in the Tar Heel State.

The total handle of $525,548,571 last month represented a 19% decline from the $648,934,226 reported in April. However, much of that was because promotional spending by the state’s sportsbooks fell by $48,704,557 (or 61.2%) from April. Bettors received $30,946,064 in credits in May. As a result, May’s paid handle of $494,602,507 was down only 13.2% from the $569,283,607 in cash wagers placed in April.

Operators, though, took a hit in May as their revenues tumbled by more than 40% from $105,251,672 in April to $63,080,347 in a month-over-month comparison. Likewise, the state’s coffers saw the tax revenue fall by the same rate, with North Carolina receiving $11,354,462 in May, down from $18,945,301.

Taxable revenues for sportsbooks also include promotional wagers they’ve offered customers. The difference between the paid handle and the amount operators paid to customers was $35,934,872. That’s up 16.4% from the $30,881,663 margin in April.

All reported figures are for online operations. North Carolina’s sports betting law allows for brick-and-mortar sportsbooks, but none have opened outside of tribal casinos in the state. The North Carolina State Lottery Commission also does not break down handle or revenue data by operator.

North Carolina Mobile Sports Betting History

North Carolina Sports Betting Handle and Revenue FAQs

Author

Editorial Staff

Staff writers for BetCarolina.com

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