North Carolina reports nearly $649m in April sports betting revenue

After reporting a total wagering revenue of $659.3m at the end of March, North Carolina followed that up by placing nearly $649m in bets throughout the month of April. The decrease in total wagering revenue is mainly due to the expiration of promotional offerings after March had ended. 

The promo wagering revenue in the state was $79.65m, an expected decrease from the $202.6m reported at the end of March. 

Paid wagering revenue increased, however, a sign that residents of North Carolina are continuing to become involved in sports betting. The April revenue was reported at $569.3m, a 24.7% increase from the month prior. This can also be explained due to the fact sports wagering only became legal in the state on March 11, with April being the first full month in which finances were reported. 

Gross wagering revenue also increased partly due to the severed time in March, increasing from just under $66.5m to $105.3m in the month of April. 

The state has seen an influx of sports wagering since it became legal, having reached $200m in reported revenue just after the first week. GeoComply had posted data on sports betting after only 48 hours post-legalization, reporting that there were already close to 370,000 active sports betting accounts in North Carolina.

Kirk Geller

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