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In April, North Carolina saw significant activity in its sports betting sector, with residents placing nearly $649 million in bets. This followed a robust performance in March, where the state reported a total wagering revenue of $659.3 million.
The decline in total wagering revenue from March to April was mainly due to the expiration of promotional offers. In March, promotional wagering revenue stood at $202.6 million, which dropped to $79.65 million in April. Despite this, the state’s sports betting market remained active and vibrant.
Paid wagering revenue saw a notable increase in April, reaching $569.3 million—a 24.7% rise from the previous month. This growth reflects the continued engagement of North Carolinians in sports betting activities. It’s important to note that sports wagering became legal in the state on March 11, making April the first full month of reported finances.
Gross wagering revenue also experienced a substantial boost, jumping from just under $66.5 million in March to $105.3 million in April. This increase can be attributed to the full month of sports betting operations, compared to the partial month in March.
Since the legalization of sports wagering, North Carolina has witnessed a surge in betting activities. In just the first week, the state reported $200 million in revenue. Additionally, data from GeoComply revealed that within 48 hours of legalization, there were nearly 370,000 active sports betting accounts in the state.
North Carolina’s sports betting market shows promising growth and high engagement from residents. The significant revenue figures and increased participation highlight the market’s potential and the positive impact of legalization.