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, June vs. May

North Carolina Sports Betting Handle and Revenue: June 2024

As the temperatures rise, handles for North Carolina sportsbooks are expected to fall, and that’s exactly what happened in June.

The $398,251,464 in total wagers were the lowest the North Carolina State Lottery Corporation has announced since statewide online sports betting went live in the state back on March 11. June’s handle was down 24.2% from the $525,545,571 bet in the state during May.

Similarly, the $16,450,309 in promotional credits in June were also the lowest reported by the state, falling by 46.8% from the $30,946,064 bettors used in May.

Lower handles don’t always translate into lower revenues for operators, but that was the case for North Carolina operators last month. The state’s eight licensed sportsbooks reported gross revenues of $40,302,263, a decline of 36.1% from the $63,080,347 in the previous month.

North Carolina taxes operators at 18% of their gross revenues, meaning the state received $7,254,407 in June.

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