North Carolina’s Online Sportsbook For November Shows 60% Increase In Revenues

North Carolina

North Carolina sports betting landscape experienced a turnaround in November, with online sportsbooks reporting a 60.4% surge in revenue compared to the previous month, this recovery comes on the heels of a challenging October,

November proved to be a watershed month for North Carolina’s online sports betting operators, with combined gross revenue reaching $78.1 million. This figure represents a significant milestone, marking the second-highest monthly revenue recorded since the launch of mobile wagering in the state.

Accompanying the revenue surge was an increase in handle, with North Carolina sportsbooks processing a total of $657.6 million in wagers during November. This figure narrowly missed the all-time high set in March, falling just short of the $659.3 million record. The 7.5% month-over-month growth in handle indicates a strong appetite for sports betting among North Carolina residents, particularly as the sporting calendar entered a busy period with multiple major leagues in action.

One of the most notable aspects of November’s performance was the significant improvement in hold percentage. Sportsbooks achieved an 11.8% hold rate, representing a nearly four-point increase from October. This double-digit win rate, the second such occurrence in the past four months.

The convergence of multiple major sports leagues in November created a perfect storm for sports betting activity. With the NFL season in full swing, college football reaching its climax, and the start of the college basketball season, bettors had an unprecedented array of wagering options at their disposal.