Home » North Carolina Sports Betting Handle Finally Slows In June

North Carolina Sports Betting Handle Finally Slows In June

North Carolina Sports Betting Handle Finally Slows In June

The North Carolina State Lottery Commission reported $398.3 million in sports betting handle for June on Tuesday, the first time in four months action failed to reach one-half billion dollars.

The 24.2% decline from May’s $525.5 million was somewhat expected given the lighter sports schedule that comes with June. The Boston Celtics took care of the Dallas Mavericks in five games to win the NBA Finals while the Stanley Cup Playoffs featured a total of nine games for the month — two deciding conference finals matchups before the Florida Panthers and Edmonton Oilers went the full seven games before Florida won its first title.

The biggest marquee events beyond those on the sporting calendar were the U.S. Open for golf and the group stages of Euro 2024.

Despite the lesser action, Tar Heel State sportsbooks still had a strong month. They finished with $40.3 million in gross sports betting revenue, which resulted in a 10.1% hold. The eight sports betting apps available to North Carolina bettors have collectively posted double-digit win rates every month since launching in March, and the current hold through three-plus months of wagering is a healthy 12.3%. That has resulted in $275.1 million in operator winnings.

The state collected nearly $7.3 million in taxes for June based on its 18% levy and is already within $477,000 of $50 million.

Promotional Spend Again Declines Notably

Though nearly 15% of North Carolina’s $2.23 billion in handle — $329.7 million and counting — since launch can be traced back to promotional bonuses and credits, the $16.5 million reported in June represented a 46.8% decline from the $30.9 million lavished upon bettors in May. It was 4.1% of the total handle for June and 8.1% of the $202.6 million in such bonuses and credits offered during the March launch.

The lighter promotional spend may be a sign the digital sportsbooks are keeping their powder dry for the upcoming NFL and college football seasons, with the fall being the first time North Carolina bettors can legally wager on their favorite local teams.

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The $40.3 million in operator winnings is the lowest of the four monthly totals and 36.1% lower than May’s haul of $63.1 million. June’s hold was also close to 1.9 percentage points lower than the previous month and narrowly edged out March’s win rate to rank third out of the first four months.

The North Carolina State Lottery Commission does not disclose handle and revenue figures by either operator or sport category.