North Carolina Sports Betting Revenue Grows by 60% in November
November proved to be a significantly better month for sports betting operators compared to October. In North Carolina, total sports betting revenue soared by 60%, marking a strong rebound for the industry.
North Carolina Approaches Record Levels in November
Players in North Carolina wagered $657.7 million in November, making it the second-highest monthly handle in the state’s history, trailing only March, the first month of legal sports betting. This represents a 7.5% increase compared to October.
Gross gaming revenue (GGR) reached $78.1 million, also the second-best result on record, following April’s $105.2 million. These revenues were achieved with a hold rate of 11.8%, giving operators a much-needed respite after a challenging October, marked by high payouts to players.
The November hold rate reflects an increase of nearly four percentage points compared to October and marks the second double-digit hold rate in the last four months.
Sports betting also generated $14.1 million in tax revenue for the state in November, the highest monthly figure since July, when the North Carolina Lottery Commission began including tax revenue data in its reports.
$4.7 Billion in Handle Since March
Since the launch of legal sports betting in North Carolina in March, players have wagered a cumulative $4.7 billion with licensed operators.
The state imposes an 18% tax rate on operator revenues, with tax proceeds allocated to various programs, including funding athletic departments at 13 public universities across the state.
Currently, eight online sportsbooks are operational in North Carolina:
- bet365
- BetMGM
- Caesars
- DraftKings
- ESPN Bet
- FanDuel
- Fanatics
- Underdog
However, the North Carolina Lottery Commission does not publish financial data for individual operators, making it impossible to determine how each platform is performing.
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