After missing out on February’s Super Bowl, North Carolina regulators prioritized launching sports betting just in time for March Madness. The Tar Heel State’s eight sportsbook operators hit the ground running, generating impressive handle and revenue, proving to use that it is never to late to become an online bookie.
Sports betting in North Carolina went live on March 11. In its first month, the total monthly handle is at $659.3 million. Not only are sportsbooks enjoying more than half a billion in wagers, but the hold and revenue are both noteworthy as well.
North Carolina Sports Betting Market’s First Month in Review
Sportsbooks in the state have a combined hold of 10%- and a double-digit hold is good for bookies. That means more money, which is what happened with North Carolina. The revenue for its maiden month is at $66.5 million. However it will be a while before sportsbooks can really be in the green. Much like with any business, when you open a sportsbook, there are a lot of expenses. Using a sportsbook pay per head software helps you cut down, but promotions and bonuses are very important during launch, and usually pays off.
So for the state, their sportsbooks gave away a total of $202.6 million in promotional credits- mostly as sign-up bonuses. It might sound too expensive, but in the world of sports betting, welcome bonuses are a big deal, and is very efficient in generating player registration and betting activity.
What’s in Store for the Tar Heel State?
The timing of launching in March was a good one, especially with March Madness generating a lot of wagering activity. The Tar Heels, Duke, and NC State all performed well in their stint in the NCAA tournament, so a lot of locals were out supporting these teams- even in sportsbooks.
Betting action may slow down a bit, as we move into summer. But NBA, NHL, and MLB games will be bringing in a lot of action. What many in the industry look forward to, is seeing how bettors in North Carolina will act when football season starts in September. If you are still without a good sportsbook software to offer wagering on all of these leagues, these pay per head bookie reviews will help you a lot.
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