North Carolina Sports Betting Sees Decline in May Handle

This represents a 19% decrease from April’s handle of $648.9 million and a 20.3% drop from March’s figure of $659.3 million.

Revenue Figures

Gross gaming revenue (GGR) for May was $63.1 million, a significant decline of 40.1% compared to April. Bettors in the state were paid out $458.7 million in winnings, resulting in a hold percentage of 12.3%.

While the state did not release specific tax revenue figures, North Carolina imposes an 18% tax on digital operators’ GGR.

North Carolina’s sports betting market officially launched on March 11, with eight platforms, including prominent names like FanDuel and DraftKings, as well as two tribal casinos.

The state’s legislation, signed into law by Governor Roy Cooper on June 14, 2023, permits mobile betting on horse racing, professional and college sports, Olympic sports, and esports.

Future Reporting and Market Insights

Currently, North Carolina does not break down its sports betting revenue by operator or sport, limiting insights into specific market dynamics.

However, as the market matures, more detailed reporting may be introduced, providing better clarity on the performance of individual operators and betting trends across different sports.