North Carolina records $105m in gross wagering for April

North Carolina’s online sports betting gross wagering for April experienced a steep revenue rise to a total of $105.3m, subject to an 18% tax rate. 

In what was the Tar Heel State’s first full month of operations, gross wagering revenue increased by 58% compared to the previous month’s total of $66.5m, according to the North Carolina State Lottery Commission.

The state generated $649m in total wagering revenue in April, a slight decrease from March’s total of $659m. There was a 24.6% monthly rise in paid wagering revenue, with $569m posted for April, compared to $456m in March.

It was a contrasting story for promo wagering revenue, with March’s total of $202.6m dwarfing April’s $79.7m figure.

Also in April, $538.4m was paid out to bettors as winnings, an 8.9% decrease from March’s figure of $591m. There was $5.3m in canceled and void wagers, according to the commission’s monthly report.

North Carolina became the 31st state to launch online sports betting on 11 March and reported nearly $200m in handle within the first seven days.

Geolocation solutions provider GeoComply recorded just shy of 370,000 active players in the state within two days of the sports betting market going live.

Now, more than two months on, there are eight operators live in North Carolina: FanDuel, BetMGM, bet365, DraftKings, ESPN Bet, Fanatics, Caesars and Underdog.

North Carolina could soon follow in the footsteps of such states as Arizona, Colorado and Maryland by banning college prop bets. 

House Bill 967 aims to ban individual prop wagers on college and amateur sports and has been put forward just weeks after Charlie Baker, the president of the National Collegiate Athletic Association, encouraged all states to ban college prop bets.

Ohio and Maryland have already banned them prior to Baker’s plea, while Louisiana has announced it will outlaw the wagering type from 1 August.