North Carolina reports $659m in handle in first three weeks of legalized sports betting
Tar Heel State launched regulated online market on March 11, with gross wagering revenue standing at $66.5m
Licensed online operators in North Carolina have reported handle of $659.3m in the first month of legalized sports wagering.
In figures reported by the North Carolina State Lottery Commission, the Tar Heel State’s market returned gross wagering revenue of $66.5m, subject to an 18% tax rate, while operators handed out $590.8m in winnings.
Promo wagering revenue came in at $202.6m, with a swathe of offers flooding the market as operators look to secure a foothold, while the state’s paid wagering revenue stood at $457.7m.
There were $2m in canceled and void wagers as well, as per the regulator’s report.
The state went live on March 11, 2024, becoming the 31st state to launch online sports betting, and reported nearly $200m in handle in its first week.
It coincided with March Madness, where number one seed the North Carolina Tar Heels were dumped out in the first round by number four seed Alabama, 89-87 in the men’s bracket.
GeoComply reported that in the first two days of the sports betting market going live, there were nearly 370,00 active players in the state.
Eight operators are currently live in North Carolina: FanDuel, DraftKings, BetMGM, ESPN Bet, Caesars, Fanatics, bet365, and Underdog.
Following the state’s launch, EGR collated reactions from key figures in the sector.