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North Carolina’s sports betting boom: How football kick-started a $575 million surge

David Gravel October 10, 2024

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North Carolina’s sports betting boom: How football kick-started a $575 million surge

In a dramatic turnaround, sports betting in North Carolina saw a significant spike in September, fuelled primarily by the much-anticipated return of football. After a quieter summer, with wagering numbers slipping below $400 million, September marked a resurgence, with bets totalling over $575 million. This sharp 55% increase highlights the growing influence of sports betting in the Tar Heel State as it capitalises on the popularity of American football.

As sports fans gear up for what promises to be a lucrative football season, North Carolina’s betting landscape offers plenty of opportunities and excitement for operators and bettors alike. The resurgence in sports betting not only highlights the widespread passion for football but also signifies a trend that could persist as more sports make a comeback.

A comeback after a summer slump

Sports betting markets in the U.S. face difficulties during the summer months when popular leagues such as football and basketball are on a break. North Carolina was no exception, experiencing a slump where monthly betting totals dropped significantly. June, July, and August saw wagering figures dip well below the $400 million mark, as bettors waited for the return of major sports leagues.

This trend, however, sharply reversed in September. The state’s sports betting handle jumped by over $200 million, driven largely by the start of professional and college football. The resurgence in betting activity underscores how seasonal sports can dramatically influence a state’s betting market.

The excitement surrounding football, coupled with the growing familiarity of North Carolina residents with mobile sports betting, was enough to spark renewed interest. The Tar Heel State’s market, which only launched online betting in March, is still relatively young, but this September surge signals it is adapting well to the ebbs and flows of the sporting calendar.

North Carolina’s sports betting figures

In September, North Carolina’s sports betting handle hit a remarkable $575.4 million. Of this, $538.4 million came from paid wagers, while $37 million stemmed from promotional bets aimed at attracting new customers. This rise in promotional spending shows that sportsbooks are keen to capitalise on football’s return to drive engagement and customer acquisition. The $575 million in total wagers puts September just behind the state’s peak months of March ($659 million) and April ($648 million).

Sportsbooks returned more than $501 million to bettors in September, with an additional $3.8 million in cancelled or voided bets. Despite this, operators generated a gross revenue of $70 million—more than double August’s figures. This significant boost reflects how football season brings an influx of betting activity. It is not just the number of wagers, but also the sheer excitement and anticipation that drives bettors to take part.

Football’s impact on sports betting

It’s no surprise that football is the key driver behind North Carolina’s surge in betting activity. As the most popular sport in the U.S., the return of both college and NFL football represents the biggest event on the sports calendar for bookmakers and bettors alike. The start of football season has long been a crucial period for the betting industry, and North Carolina’s September figures are proof of this.

The appeal of football is vast, covering everything from point spreads to player prop bets and futures, which fuels continuous betting throughout the season. Football’s dominance on the betting scene was clear in the promotions launched by sportsbooks, with $37 million in free bets, bonuses, and other offers helping to lure customers back into the action.

As betting activity picks up, the state’s tax revenue also increases. North Carolina’s 18% tax rate on gross gaming revenue has generated more than $75 million since March, with $12.6 million coming from September alone. The growing tax revenue is a sign that sports betting can contribute significantly to the state’s economy, especially as its popularity continues to soar.

Looking beyond September

September saw a notable surge in betting activity, but the months ahead could experience even more substantial levels of betting. With football in full swing, October and November promise to deliver higher betting volumes, as basketball and hockey seasons also kick off. This convergence of major sports will create even more opportunities for sportsbooks to grow their customer base, with bettors having an array of choices.

Looking ahead, North Carolina has yet to launch retail sportsbooks, but plans are in the works to introduce in-person betting at select venues, including major sports arenas. This could add an extra dimension to the state’s betting market, combining the convenience of online betting with the excitement of live events. The development of pari-mutuel horse racing, expected to launch in 2025, could further expand North Carolina’s betting landscape.

The state is already attracting some of the biggest names in the industry, including FanDuel, DraftKings, BetMGM, and Caesars, ensuring that bettors have access to competitive odds, promotions, and a variety of betting options. With retail sportsbooks on the horizon, North Carolina’s betting market could continue to grow, positioning itself as a major player in the iGaming industry.

Responsible gambling remains crucial

As North Carolina’s sports betting market grows, so does the importance of responsible gambling measures. The state has already seen an increase in calls to its problem gambling helpline, with the number of cases rising during the summer months. As betting is growing, it is becoming crucial to increase efforts in promoting responsible gambling and providing support to those impacted by gambling-related harm.

The rise in sports betting activity is undoubtedly exciting for both operators and bettors, but responsible gambling should remain a priority. North Carolina can set an example for other states by implementing policies that encourage safe betting practices.

North Carolina’s sports betting market is thriving, and the September surge is marking a significant turning point after the slow summer months. Football season is reigniting interest, and with more sports returning to the calendar, the state’s betting figures should climb even higher. As operators expand their offerings and the state considers new avenues for growth, North Carolina is looking set to become a key player in the U.S. sports betting scene.

For the iGaming community, North Carolina is offering a dynamic and growing market with plenty of potential for future expansion. However, as the state continues its upward trajectory, it is crucial that the focus remains on promoting responsible gambling alongside the excitement of the sports season.

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