Mobile sports wagering in North Carolina tailed off by 4.3% during December despite the overlap of the final weeks of the NFL regular season, college football bowl season and a series of high-profile nonconference college basketball games.
The N.C. State Lottery Commission reported Friday that $629.5 million was wagered online, according to reports from the eight licensed sports wagering operators. The commission issued its report — as typical — without commentary.
By comparison, the November amount was $657.7 million.
The record monthly total of $659.3 million was spurred by both the March 11 debut on legal mobile wagering in N.C., as well as the NCAA men’s and women’s tournaments.
Industry analysts have projected that overall monthly betting totals should peak annually with the 12-team college football playoffs in December and January, the Super Bowl in February and March Madness.
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The December breakdown was $613.1 million by participants, while $16.4 million was provided in operators’ promotional spending.
Operators initially offered enticements of up to $200 worth of free bets for as little as a first wager of $5. Those enticements have dropped substantially from $202.6 million for the period of March 11-31.
The report is based on activity submitted by Betfair Interactive; BetMGM; Crown NC Gaming; FBG Enterprises Opco; Hillside (North Carolina); Penn Sports Interactive doing business as ESPN Bet; Tribal Casino Gaming Enterprise, an enterprise of the Eastern Band of Cherokee Indians; and Underdog Sports Wagering.
“The momentum in North Carolina is undeniable,” said BetCarolina.com analyst Steve Bittenbender.
“North Carolina is in a great position to make a significant impact as fans wager on the playoffs and the ultimate prize — the Super Bowl.”
Overall winnings
In terms of winnings, account holders did achieve — barely — a monthly record of $590.9 million, The total was up from $576.8 million in November. The total so far is $4.8 billion.
The N.C. Revenue Department is responsible for collecting the tax proceeds from sports wagering revenue.
The eight operators made a combined $35.7 million in gross wagering revenue in December, compared with $78.1 million in November.
Gross wagering revenue is defined as what the operators received from sports wagers, less the amounts paid as winnings before any deductions for expenses, fees or taxes.
State law places an 18% tax on the operators’ gross wagering revenue, which would be $6.4 million in November, compared with $14.1 million in November. The total so far is $106 million.
By comparison, legislative analysis of House Bill 347, which authorized sports wagering, projected about $40 million initially in annual tax revenue and more than $100 million by 2029.
Bittenbender said North Carolina could generate as much as $128 million in tax revenue over the first 12 months.
Bets are not allowed on youth sports but can be made on professional sports, college sports, electronic sports, certain amateur sports or any sports events approved by the commission.
