Latest Esports News

North Carolina Sportsbooks Stay Hot, Reap $63 Million In May

13

The North Carolina State Lottery Commission reported $63.1 million in gross sports betting revenue for May on Monday as operators extended their blazing start since launching in mid-March.

May’s revenue haul is the lowest of the three months of reporting and 40.1% lower than the $105.3 million posted in April. North Carolina’s eight sportsbooks have already accumulated $234.8 million in gross revenue thanks to an operator-friendly 12.8% hold from $1.83 billion in handle.

May’s hold was slightly below the overall average, but a still-healthy 12% against $525.5 million in handle. That was down 19% from April’s $648.9 million that came in the first full month of betting.

The state was able to levy its 18% tax on $61.8 million in adjusted gross revenue as North Carolina’s coffers saw an inflow of $11.1 million. The Tar Heel State has collected $41.4 million in receipts in the first three months of wagering, with all three months generating a minimum of $11 million.

Promotional Spend Down Again, But Still Notable

Bettors are still churning through promotional credits and bonuses, evidenced by the $30.9 million worth of handle from such offers. That was down 61.1% from the $79.7 million outlay in April as the overall spend since launch is $313.2 million — 17.1% of total handle. May’s promotional spend represented 5.9% of all wagering.

Operators dominating the first three months of action in North Carolina is similar to how they started in Ohio in the first quarter of 2023. Sportsbooks there had a 15.5% win rate on $2.49 billion worth of wagers, claiming $387.4 million in adjusted gross revenue.

Sign Up For The Sports Handle Newsletter!

Operators also were aggressive early in the Buckeye State with $423.6 million in promotional spend from January through March, but the falloff among North Carolina’s eight sports betting apps — Ohio had more than double with 19 — was sharper in the third month than the 24.9% dip to $44.4 million reported in Ohio.

The North Carolina State Lottery Commission does not offer sport-specific or operator-specific handle and revenue figures in its monthly reports.



Read the original article Here

Visit the Association of Certified Gaming Compliance Specialists Here

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy