North Carolina Sees Historic Betting Slump in June
North Carolina has recorded its lowest monthly handle and revenue in June since its sports betting market went live earlier this year.
June's $40.3m gross betting revenue was 36% behind the $63m generated in May.
LISTEN TO THIS ARTICLE:Recent figures released by the North Carolina State Lottery Commission reveal that the eight operators in the Tar Heel State generated an online sports betting handle of $381.8 million in June. The figure marks a significant 22.8% decline from the $494.6 million recorded in May 2024.
It was also $79.4 million short of the $456.7 million in March this year, the state's first full month of online wagering.
In the month, gross sports wagering revenue reached $40.3 million, a 36% decrease from May's $63 million. Consequently, the total becomes the state's lowest revenue figure to date.
Since March, North Carolina residents have placed $1.9 billion in sports bets, while operators have generated $275.1 million in gross wagering revenue.
NC Sports Betting Tax Revenue Allocations
Under its current gaming laws, North Carolina imposes a tax rate of 18% on the gross wagering revenue of its licensed online sportsbooks. The revenue generated from this tax is allocated to support various initiatives, including education, problem gambling programs, youth development, and events.
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$2 million annually goes to the Department of Health and Human Services to fund educational resources and treatment programs to address problem gambling. North Carolina Amateur Sports receives $1 million yearly to support new initiatives.
Additionally, the North Carolina Youth Outdoor Engagement Commission gets $1 million annually to promote outdoor activities and conservation efforts. The state's General Fund and Major Events, Games, and Attractions Fund also benefit from these revenues.
Thirteen state universities, including Appalachian State, East Carolina, Western Carolina, Fayetteville State, N.C. Central, Winston-Salem State and others receive annual allocations of up to $300,000 each.
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