Sports betting action bounced back big from August in North Carolina as a full month of football in September showcased more of what the Tar Heel State can expect in its first year of mobile wagering.
Online sports betting operators generated a $575.4 million handle, up 55% month-over-month, according to figures provided by the North Carolina Lottery Commission.
September produced gross revenue of $70.06 million, more than double August’s haul for the Tar Heel State’s eight online operators.
It’s no surprise that sportsbooks spent money to attract new customers during a sport that will certainly fuel North Carolina wagering. Promotional wagering jumped to $37 million in September, up nearly $23 million from the previous month.
Sportsbooks returned more than $501 million to bettors in September with nearly $3.8 million of canceled/voided bets reported.
Online sports betting added an estimated $12.6 million of tax revenue to the Tar Heel State’s coffers. The 18% tax rate on operators’ revenue has led to a $75 million haul since mobile wagering went live on March 11.
| N.C. Sports Betting | Handle | Revenue | Tax (estimated) |
|---|---|---|---|
| September | $575,398,078 | $70,062,945 | $12,611,330 |
Closer to hoops
September put North Carolina online wagering over $500 million for the first time since May’s $525.4 million handle. Betting action dropped during the slow summer months to as low as $340 million in July, but September’s haul is indicative of what North Carolina is capable of producing.
Online wagering caught fire in the Tar Heel State right out of the gate, producing $659.3 million in March and another $648.9 million in April. That was helped greatly by $280 million in promotional spending by FanDuel, DraftKings, BetMGM, Caesars, Fanatics, bet365, ESPN BET, and Underdog Sportsbook to introduce bettors to online wagering.
The March launch also coincided with college basketball’s men’s and women’s postseason tournaments in a state synonymous with a passion for the sport. It’ll be interesting to see how much action grows throughout October and into November when football, hockey, and basketball are all in full swing at the same time.
More wagering options to come
Since the March launch, North Carolina has only focused on online sports betting, but operator revenue and state tax cuts could increase this year if retail sportsbooks and pari-mutuel wagering get off the ground in the coming months.
The lottery commission approved compliance measures last month to start the process of adding brick-and-mortar sports betting in North Carolina at or adjacent to select sports venues, like Bank of America Stadium (home of the NFL’s Carolina Panthers) and PNC Arena (home of the NHL’s Carolina Hurricanes).
There’s no timeline or launch dates set for retail wagering as it's up to each operator to complete the infrastructure and logistics before being approved to begin offering in-person betting.
Horse racing is still in the early stages of rule-making. More will be determined later this year with a likely launch date for pari-mutuel wagering coming in 2025.
