The North Carolina State Lottery Commission reported nearly $814 million in sports betting handle for November on Thursday as Tar Heel State bettors again pushed their all-time monthly best higher.
Wagering was up 23.8% compared to last year, and November’s figure bested October’s short-lived standard by $2.5 million. The robust action pushed North Carolina’s year-to-date handle above $6.6 billion heading into the final month of its first full year with sports betting available following a March 2024 launch.
Sportsbooks fared well, crafting an 11.4% hold to claim $92.9 million in gross revenue. That is the second-highest total in 21 months of wagering in North Carolina, slotting behind only the $105.3 million accumulated in April 2024 in the first full month of betting. Operator winnings were up 19% from last year as the win rate was nearly one-half percentage point lower.
State coffers saw an inflow of $16.7 million for the month, lifting the calendar-year total to $117.6 million. The $56.6 million collected in the first five months of the fiscal year is running $7.4 million ahead of last year’s pace.
Promo spend as percentage of handle dips below 3%
North Carolina’s eight sportsbooks had a collective promotional outlay of $22.3 million in November, which was up 17.1% compared to last year. But it accounted for only 2.74% of wagering, which marked the first time since August it dipped below 3%. The November spend lifted the year-to-date total to $206.5 million, which finally exceeded the $202.6 million operators lavished upon bettors at launch in March of last year.
In comparing like-for-like, year-over-year numbers spanning March through November, handle is flat at $5.42 billion. But wagering in terms of dollars has gone up roughly 5.3% considering the total promotional outlay from operators this year is $285.2 million less. Promotional spend as a percentage of handle over the last nine months is 3.1% compared to 8.3% in 2024.
Virginia checks in with record handle, too
The Virginia Lottery reported $831.6 million in sports betting handle for October, its latest figure available, becoming the 10th state in the post-PASPA era to crest $800 million in monthly wagers.
The Old Dominion joined North Carolina in accomplishing the feat for the first time in October as handle was up 19.5% compared to last year. The previous record for handle was $761 million established last November, and Virginia bettors had eclipsed $700 million in wagers on three other occasions the previous 10 months before reaching the next benchmark.
Gross revenue surged 48.4% to $80.6 million, the third-highest total in 58 months of wagering, and resulted in a 9.7% hold. The $75.3 million in adjusted gross revenue also ranked third all-time, resulting in $11.3 million in taxes for the month. The Virginia Lottery does not report operator figures but noted 10 operators finished with net positive AGR in October.
