North Carolina gross betting revenue reaches $70.1m in September
The handle total was the third-largest the state has recorded.
Key Points
- Third-highest month in the state for total sports wagering revenue since market launch; gross wagering revenue came to $70.1m
- 55.3% rise in total wagering revenue compared to August
- Estimated tax proceeds reached about $12.6m
The North Carolina State Lottery Commission has released sports betting figures for the month of September within the state.
Total wagering revenue during the month was just shy of $575.4m (although this figure is usually referred to as handle), representing a massive increase of 55.3% when compared to August’s numbers, and is the third largest total seen in the Tar Heel State since the market went live back in March.
March was the largest month for total wagering revenue so far at $659.3m, followed by April at $648.9m, with July’s total being the lowest at $340.4m so far since the market’s launch.
FY25’s total wagering revenue/handle so far, as a result of September’s total, has now surpassed $1bn, sitting just short of $1.29bn.
Good to know: The largest figure the state of North Carolina refers to is usually described as handle, with gross wagering revenue the figure that is more important in terms of the bottom line ($70.1m)
As a result, the estimated tax proceeds jumped by over $6.5m from August to September, reaching a total of about $12.6m. These tax proceeds are distributed to benefit a number of areas in the state, including the Department of Health and Human Services for gambling addiction education and treatment programs, North Carolina Amateur Sports, as well as a number of other areas.
Importantly, the amount of winnings paid out to players in North Carolina was valued at $501.6m so the gross wagering revenue in September was $70.1m.
In other results-based news this week, Maryland released its casino figures for the month of September, showing its six privately owned casinos collectively generated $159.5m in gaming revenue.
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