Home NewsSports Betting In North Carolina, the third month of full sports betting has seen a decline in handle and hold.

In North Carolina, the third month of full sports betting has seen a decline in handle and hold.

by
14 views 2 minutes read


North Carolina’s mobile gambling handle dropped to $398m for the fourth month in its operation. This is its lowest level since it launched in March.

The North Carolina State Lottery Commission released a report on Monday, 8 July. It showed that revenue in Tar Heel State dropped by almost 26 percent between May and the end of June. This is not unusual as US sports are slowing down in the summer. New York also saw a drop in mobile wagering of 34% between May and June.

In North Carolina, the total gaming revenue (GGR), which includes all bets and promotions, reached $40.3 million. North Carolina does not allow operators to deduct promotions.

The operators maintained an average 10% holding, which is 2% less than May. GGR taxed 18%.

According to the report, player winnings in June totalled 354.7 million dollars. The operators cancelled bets worth $3.2m, which is almost 1% the total handle of the State.

North Carolina’s handle has reached $2.2bn and its GGR is $275m.

The biggest month for the company so far has been its March opening. Bettors wagered $659m, and operators made $66.5m GGR. This opening-month record was partly boosted by the NCAA Men’s Basketball Tournament, in which NC State surprised everyone and made it to the Final Four. Duke (Elite 8), and North Carolina, (Round 16), also advanced beyond the first two games.

FanDuel is a big hit in North Carolina

Flutter’s CEO Peter Jackson announced in its May Q1 results that North Carolina was one of Flutter’s fastest-growing states.

Paul Edgecliffe Johnson, CFO of Flutter, said: “We won the state. We’ve registered one out of 20 adults. But it’s not free.” There is more activity where there are most people.

Bet365, BetMGM Caesars Sportsbook DraftKings ESPN Bet Fanatics and FanDuel all have live markets. Operators must partner with a NASCAR team or PGA Tour, as required by law.

You may also like

About Us

On iGamingWorld, we provide in-depth analysis, the latest news and opinions from famous people of the gaming industry.

Featured Posts

Newsletter