According to June 2024 numbers from the North Carolina State Lottery Commission, the pace of North Carolina sports betting is beginning to slow down.
The state turned in its lowest numbers yet, with about $398 million in total betting revenue changing hands. The amount is down 24.2% compared to May activity.
Is a 24% Drop in North Carolina Sports Betting a Concern?
The phrase “all-time low” sounds gloomy for North Carolina’s young industry, but summers bring sports betting to an idle in states across the country. Football (college and the NFL) and March Madness drive the most revenue.
North Carolina faces an additional summer challenge because Major League Baseball is the only major North American sports option. Baseball also happens to be the only major sport without a presence in North Carolina. The NFL Panthers, NBA Hornets, and NHL Hurricanes have the other seasons covered.
Here’s a look at other sports betting states based on customer betting transactions (“handle”) from May to June. Note: North Carolina is ahead of most of its peers in reporting June 2024 revenue, so these examples will be from 2023:
Virginia
- May — $403,719,160
- June — $325,455,052
- Difference — Down 19.4%
West Virginia
- May — $35,140,816
- June — $23,695,286
- Difference — Down 36.3%
Tennessee
- May — $279,794,996
- June — $230,337,515
- Difference — Down 17.6%
Maryland
- May — $320,199,671
- June — $254,476,790
- Difference — Down 20.5%
As the numbers suggest, sports betting fades over the summer — regardless of the location.
What to Look for in 2024 and Beyond
Using a gardening analogy, the sports betting ground will start to thaw in August, and the gambling plants will bloom in September. Numbers will surge during football season.
Two factors should goose North Carolina sports betting numbers before September, however.
The Summer Olympics will be held from July 26 to Aug. 11. The Paris Games include 329 medal events and a chance to wager on Olympics betting lines for everything from swimming and rowing to equestrian and judo.
In a sneaky boost to the summer handle, college football Week 1 begins on Aug. 31 — not September — in 2024, so NC sportsbooks can add the first full Saturday of games to their August ledgers.
North Carolina’s First January and February
The NFL (and expanded college football) playoffs will produce strong numbers at the start of 2025. North Carolina bettors will get to legally wager on Super Bowl prop bets for the first time.
And — since N.C. sports betting didn’t debut until March 11 — add 10 betting days to the betting calendar when the March 2025 NCAA Tournament comes back around. That’s when industry analysts will start to track Year-over-Year (YoY) in North Carolina.
This is the first year — and the third full month — of sports betting revenue reports in the Tar Heel State. North Carolina has eight sportsbooks for online sports betting:
- bet365
- BetMGM
- Caesars
- DraftKings
- ESPN Bet
- Fanatics
- FanDuel
- Underdog Sports
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