The Tar Heel State experienced its slowest online sports betting month yet in June.
The North Carolina Lottery Commission reported a monthly handle of $398.2 million on Monday. The amount wagered in June fell 24% compared to May’s $525.5 million handle, the largest month-over-month drop since sports betting went live in March.
North Carolina's eight online operators hauled in $40.3 million in gross revenue, down 36% month-over-month. It’s also $26 million less than sportsbooks produced in the final three weeks of March.
Promotional credits decreased by 47%, dropping from $30.9 million in May to $16.5 million in June.
Still, operators can’t complain about the 10.1% hold generated in June. Despite less action, North Carolina’s win rate stayed well above the industry’s 7% standard and has hit double digits every month since sports betting went live.
That’s good news for a state that hauled in an estimated $7.2 million of tax revenue in June at an 18% rate.
| N.C. sports betting | Handle | Revenue | Tax (estimated) |
|---|---|---|---|
| June | $393,251,464 | $40,302,263 | $7,254,407 |
First-time lull
The summer lull is typical in the U.S. market with the NBA and NHL wrapping up their playoffs and fewer big-time games to wager on.
There’s no in-state MLB team to help drum up business, so betting figures will likely stay low in July. Legal North Carolina sports betting operators are surely looking to the Summer Olympic Games from late July through August for a mid-summer bump.
The Tar Heel State ranked sixth among all U.S. states in handle during May, so the impending college football and NFL season will truly show what this market is capable of later this year.
Nice start
Despite the inevitable June numbers drop, online sports betting is off to a notable start in the 9th most populous U.S. state.
North Carolina bettors have combined to wager $2.2 billion and have been paid over $1.9 billion since March. Meanwhile, sportsbooks crossed $275 million in gross revenue with June’s lighter haul.
Since launch, nearly $50 million in tax revenue has filled the state’s coffers.
