The largest total bet in a month in North Carolina was $693.3 million in March, when wagering went live. That amount includes real-money and promotional bets. In November, bettors laid down $638.7 million and operators wrote off $19 million in promotional play. In March, bettors wagered $456.7 million in real-money bets and also used $202.6 million in promotional play.
Operators in the Tar Heel state took in record revenue of $78.1 million for November, according to today’s (9 December) report from the North Carolina State Lottery Commission. The next highest gross gaming revenue (GGR) month was September, when operators reported $70.1 million.
Through nine months, bettors have wagered $4.4 billion with an additional $434.3 million in promotional play. The level of promotional play was at its peak in March, but has been at $37 million or less per month since June.
Operators paid $14.1 million in taxes
For the month, operators paid the state $14.1 million in taxes. Wagering companies are taxed at 18% of GGR in North Carolina. All told, the state’s betting market has performed well when compared to those of similar size.
For comparison, North Carolina has about 10.8 million residents and Michigan has about 10 million. Tar Heel state bettors have been keeping pace with Michiganders. The November Michigan revenue report has not been released yet, but, in October, the state reported handle of $560.4 million as compared to North Carolina’s handle of $612 million. In both cases, the handle numbers are before promotional deductions.
The North Carolina Lottery does not break down its revenue report by operator or sport. There are currently eight sports betting platforms live in the state.
Original article: https://igamingbusiness.com/sports-betting/north-carolina-wagering-revenue-november/
