North Carolina’s legal sports betting hits $6.6 bn in first year
North Carolina’s digital sports betting market saw wagers reach $6.6 billion (€6.1 billion) in its first 12 months, according to the North Carolina State Lottery Commission. The highlighted key financial figures and how the industry has performed compared to other states.
Operators collected $713 million (€661 million) in gross gaming revenue (GGR), while the state earned $128 million (€119 million) in tax revenue, applying an 18 percent tax on GGR. These figures reflect the growing popularity of digital betting in North Carolina and its significant economic contribution.
For comparison, Ohio with a population of 11.8 million recorded a $7.4 billion (€6.8 billion) handle and $911.4 million (€845 million) GGR in its first year. Michigan launched digital betting in 2021, reporting a $3.7 billion (€3.4 billion) handle and $208.9 million (€194 million) GGR in first year. Michigan’s handle grew to $5.3 billion (€4.9 billion) by 2024, showcasing continued expansion in the sector.
Activity driven by rich sporting culture
North Carolina’s strong betting activity is largely driven by its rich sporting culture. The state boasts multiple high-profile college basketball and football programmes, three major professional sports teams, and multiple NASCAR venues, making it a prime market for sports wagering.
Currently, eight operators provide digital sports betting in North Carolina: Bet365, BetMGM, Caesars Sportsbook, DraftKings, ESPN Bet, Fanatics Sportsbook, and FanDuel. North Carolina is also the only state where Underdog offers its sports betting platform, adding further diversity to the market.
These operators offered a variety of betting options, including pre-game wagers, in-play betting, and special promotions tailored to local sports fans. Analysts predict continued market expansion as sportsbooks refine their offerings and attract a broader customer base.
A well-regulated market with growth potential
For the unaware, digital sports betting in North Carolina was legalised in June 2023, and the North Carolina State Lottery Commission established regulations before the industry launched on 11 March 2024. The regulatory framework ensures fair play, consumer protection, and a competitive environment for operators.
Chief regulatory officer Eric Snider reaffirmed the state’s commitment: “From the moment we began work, the goals stayed the same: to create a programme that protects North Carolinians and raises revenue for our state responsibly.”
With a strong first-year performance, North Carolina’s digital sports betting industry is poised for further growth.
