The North Carolina State Lottery Commission has reported that players in the state wagered $398.2 million in June, a 25 percent month-on-month drop compared to the $525.5 million handle generated in May, the lowest handle generated since the state launched sports betting in March.
North Carolina’s sportsbooks generated gross wagering revenues of $40.3 million in June, a month-on-month decline of 36 percent from $63 million in revenue in May. Still, the state’s GWR between May and June fell by $22.7 million, representing a smaller decline than the $42.1 million difference between April and May.
Promotion wagering revenues, which are deducted from the total wagering revenue according to North Carolina’s betting laws, amounted to $16.4 million in June, 47 percent less than $30.9 million in promotion wagers made in May.
Although the $127 million drop in monthly handle is significant, it is common for sportsbook wagers to fall during periods with few to no large-scale sporting events. New York revealed the same trend, with a 34 percent decrease between May and June, marking its second-worst profit drop since the market launched in January 2022.
The Summer Olympic Games, which begin July 26 in Paris, may help North Carolina break free from its consecutive decline in revenue.
Since sports betting was legalized, North Carolina’s eight licensed sportsbooks have taken more than $2.2 billion in handle, resulting in GWR of $275.1 million. GWR is taxed at 18 percent, resulting in a $7.25 million tax revenues in June and almost $50 million since March.
