North Carolina bounces back in January as betting hold hits 11.05%

North Carolina’s Sports Betting Market: A Notable Recovery in January

In January, North Carolina showcased an impressive rebound in its sports betting sector, recovering from a December slump to achieve a sports betting hold of 11.05%. This rebound sets the stage for a promising year ahead in the legal gambling landscape.

During January, consumers placed a staggering $646.9 million (£523.1 million/€626.7 million) in sports bets, marking a 2.8% increase compared to December. This total ranks as the fourth highest since the state legalized sports betting in March 2024, highlighting the growing enthusiasm among bettors in North Carolina.

Of the total wagered amount, $623.3 million was paid wagers, while promotional bets accounted for $23.6 million, as reported by the North Carolina State Lottery Commission. These figures underline the healthy activity generated by both regular and promotional betting initiatives in the market.

Additionally, the data indicated $3.9 million in canceled and voided wagers, leading to player winnings of $568.5 million derived from sports betting activities.

Remarkable Growth in Betting Revenue

January’s results also brought forth significant revenue generation, with gross wagering revenue reaching $74.5 million. This figure represents a remarkable 108.7% increase from December and is the second highest monthly revenue on record, just shy of the $78.1 million achieved in November.

The improved revenue translates to a sports betting hold of 11.05% for operators, a notable recovery from December’s concerning 5.67%, which was the lowest since the market’s inception. However, it remains below the impressive 16.22% hold recorded in April of the previous year.

While the North Carolina State Lottery Commission does not provide a detailed breakdown of revenue by operator or sport, it does disclose tax contributions. In January, sports betting produced $13.4 million in tax revenue, closely following November’s record of $14.1 million.

This analysis reflects the performance of the eight online sports betting platforms operated in North Carolina. Although tribal casinos are permitted to offer retail sports betting, these activities are not subject to state taxation. This distinction emphasizes the ongoing evolution of the gambling market within the state and raises questions about potential regulatory shifts in the future.

As the North Carolina sports betting market continues to mature, the trends observed in January could indicate a robust trajectory for both operators and consumers alike. With active promotional efforts and consumer engagement strategies, the state is well-positioned to capitalize on the growing interest in legal sports betting, potentially setting new records in the months to come.