Handle hits $543m in February for North Carolina operators
Online sports betting market nears one-year anniversary in the Tar Heel State, with total tax proceeds in that time having reached $79m
Licensed operators in North Carolina posted $543.4m in handle in February to take the total amount bet with firms in the state to $4.4bn since the market’s launch last March.
Of the handle, $526m came in the form of paid wagers, representing a decline from January’s $623.3m, despite the Super Bowl being played in February.
Promo wagering amounted to $17.4m, down from $23.6m in January.
However, total handle was at its lowest since August 2024 when the figure landed at $370.5m in the month before the start of the NFL season.
Operators recorded $55.7m in gross revenue during February, down from $74.5m in January, while tax proceeds to the state hit $10m.
North Carolina’s regulated online sports betting market launched in mid-March 2024, with the one-year anniversary of operations coming tomorrow, March 11.
In that time, $4.4bn has been wagered in the state, with that figure split between $4.2bn in paid-for bets and $162m in promotional spend.
Total revenue for licensed operators has hit $2.5m, with total tax returns to the state coming in at $79m.
November 2024 was the month with the largest total handle at $657.7m. However, gross revenue to operators in that month amounted to $78.1m, behind the $105.3m record high from April 2024.
Operators in North Carolina are subject to an 18% tax rate on gross revenue.
The state is home to DraftKings, FanDuel, BetMGM, Fanatics, Underdog, Fanatics, ESPN Bet, Caesars, and bet365.