North Carolina online sports betting completed its third full month of operations in June. Unsurprisingly, one of the slowest months on the sports calendar led to a decrease in wagering across the Tar Heel State.
Operators reported North Carolinians wagered just over $398 million in June. That’s down more than $125 million from May’s total, and further North Carolina online sports betting decreases are expected in July.
Why the North Carolina online sports betting slowdown?
June’s sports calendar does include the conclusion of both the NBA Finals and the NHL Stanley Cup Playoffs. However, very few games are played across those two sports. Baseball betting is in full swing, but the handle generated by MLB betting sites comes up short when compared to that of other major sports.
Nearly $382 million of June’s NC online sports betting handle qualifies as paid wagering revenue. In-state operators generated more than $16 million in promo wagering revenue, which is another significant decrease. March’s launch brought with it $202 million in North Carolina sports betting promo revenue. That number declined to $79 million in April and just shy of $31 million in May.
Individual operators do not provide data for these handle reports, which are produced monthly by the North Carolina State Lottery Commission. This means we don’t know how much of the handle was produced by users of specific sites like BetMGM NC, bet365 NC, Caesars Sportsbook NC, or FanDuel NC.
Bracing for more of the same in July
As slow as June was, July figures to be even slower. The primary options for gamblers are MLB betting, WNBA betting, and two tournaments that provide soccer betting opportunities.
There is, however, reason to be excited about the back half of 2024. The upcoming NFL and college football seasons are the first ones with North Carolina online sports betting. This means residents of the Tar Heel State can use some of the best sportsbook bonuses on the most popular gambling options for the very first time.
Those seasons, though, don’t kick off until late-August or early-September. A North Carolina online sports betting rebound is certainly coming, but there’s ample time until that happens.
