North Carolina sports betting handle drops in February

Player spending on sports betting in North Carolina reached $526 million (£407.3 million/€482.7 million) in February, marking the lowest monthly total since last August. This figure represents a significant decline of 16% compared to January’s impressive handle of $646.9 million, and it stands as the fifth-lowest amount since the state launched its legal sports betting market in March 2024.

According to the North Carolina State Lottery Commission, the February handle included approximately $17.4 million derived from promotional wagers. Additionally, $2.6 million in bets were voided, while players won an impressive total of $485.2 million through their betting activities during the month.

### Monthly Betting Revenue Exceeds $55.7 Million

Despite the drop in total wagers, gross wagering revenue for February reached $55.7 million, reflecting a 25.2% decrease from January. Notably, the state’s all-time high revenue was recorded in November, with an astonishing $78.1 million reported.

The hold percentage for the month stood at 10.59%, slightly lower than the 11.05% experienced in January. This adjusted revenue landscape highlights the fluctuating nature of player engagement in the sports betting market, particularly in the lead-up to major sporting events.

From a tax perspective, North Carolina generated just over $10 million from sports betting in February, marking a significant milestone as it is the first month that the state has surpassed the $10 million tax threshold. This achievement reflects the growing maturity of the state’s sports betting framework and its positive economic impact.

While the North Carolina State Lottery Commission provides comprehensive overall statistics, a detailed breakdown of performance across the eight platforms facilitating online sports betting within the state remains unpublished. As the market continues to evolve, industry stakeholders eagerly anticipate more granular data that will inform strategic decisions and enhance competitive positioning.

### Conclusion: Trends and Future Outlook

In summary, North Carolina’s sports betting market faced a downward trend in February, but the revenue generated still signifies robust player engagement. As the state moves forward, it will be crucial for operators to adapt to these fluctuations by implementing tailored marketing strategies and engaging promotional offers that can capture player interest amid varying monthly performances. Ultimately, transparent reporting and analysis will be key to unlocking the potential of North Carolina’s burgeoning sports betting landscape.