North Carolina reports $381.8m sports betting handle for June
The total handle for June represents the lowest reported handle since sports betting was legalized in the state this year.
On March 11, sports betting in North Carolina was legalized and became available for residents all over the state looking to place wagers and sign up with various platforms. When it was first legalized, leagues such as the NHL and NBA were just beginning its playoff seasons and the MLB season was just getting underway.
Now, on July 8, the North Carolina Lottery Commission has reported a sports betting handle of $381.8m for the month, the lowest total the state has reported for any month since betting was legalized. The figure can be explained by the lack of sports currently being offered on different sportsbooks. Outside of placing future bets, the NBA and NHL offerings have been reduced since each’s playoff season has come to an end. In May, the reported handle was $494.6m, but throughout this month users could wager on the playoffs, with only MLB still being in an active season.
The current operators in North Carolina include bet365, BetMGM, Caesars, DraftKings, ESPN Bet, FanDuel, Underdog Fantasy and Fanatics. Underdog Fantasy’s presence in North Carolina marks its first steps into the betting industry.
The state generated a gross wagering revenue of $40.3m for June, a decrease of 36% from the revenue reported in May. The highs for the state came in April, when it reported a handle of $648.9m and a gross wagering revenue of nearly $105.3m.
Active gaming law in the Tar Heel State imposes an 18% tax rate on gross wagering revenue for all state-licensed online sportsbooks with proceeds distributed toward education, problem gambling, youth engagement and events.
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