North Carolina’s sports betting handle hit $659 million in the state’s first month of legal wagering. The state opened its legal sports gambling market on March 11. In addition, the North Carolina State Lottery Commission report covered the period between the launch date and the end of March.
According to pay per head bookie reports, players staked $456.7 million of their money throughout the first week. Advertising wagers made by bookmakers contributed an additional $202.6 million.
During this time, players reaped substantial rewards, earning $590.8m from sports betting. The earnings remain impressive even with $2.1m in bets being called off or nullified. In all, $66.5 million was the total revenue from gross wagers in the initial weeks of legal betting, underscoring the potential for significant returns in this market.
Notably, the Commission refrained from disclosing any tax information. Under state law, any North Carolina interactive sports betting operator’s gross wagering revenue is subject to an 18% tax rate.
North Carolina Sports Betting Handle
This month’s numbers follow the Commission’s announcement of first-week betting data earlier in April. State residents wagered about $198.0 million on sporting events during the season’s first week. According to gambling software reviews and news sites, the first day of the market saw wagers of nearly $24.0m.
Eight operators in North Carolina now provide online sports handicapping services with interactive wagering licenses. Several well-known businesses are involved, including Caesars Entertainment, FanDuel, DraftKings, Fanatics, Bet365, BetMGM, ESPN Bet, and Underdog.
Sportsbooks looking to open in North Carolina must form partnerships with local North Carolina organizations to place wagers on sporting events. One such agreement exists with each of the present licensees.
One example is DraftKings, the official fantasy sports app for the NASCAR car racing series. As for the PGA Tour and the Wells Fargo Championship, both BetMGM and ESPN Bet are involved with the Charlotte Motor Speedway.
Carolina Hurricanes of the National Hockey League are among the other associates. Fanatics Betting and Gaming is another. Underdog also partnered with McConnell Golf to increase its presence in the state as a paid fantasy sports operator.
