NC Sports Betting Handle Reaches $612 Million in October
North Carolina sports betting saw a big handle in October 2024 with over $612 million in wagers. That’s the 3rd highest handle since sports betting launched in March and 3rd time handle has gone over $600 million.

October Handle Growth and Revenue Decline
October saw a $66.6 million increase in handle from September with the NFL and NCAA football seasons in full swing. But revenue dropped $21.4 million month-over-month as the hold rate was tough in October.
The hold rate (the percentage of bets kept by sportsbooks after payouts) was 8% in October, the lowest since sports betting launched in NC. That’s a big drop from September’s 12.2% hold rate and contributed to the revenue decline despite the increased handle.
$612 million was bet, $560.6 million was paid out to players. That left $48.6 million in gross revenue, with $8.7 million going to the state in taxes.
After $23 million in promotional credits, the adjusted handle was $589.1 million and adjusted gross revenue was $48.7 million.
Impact of Football Season
October was the first full month of football in NC, a big driver of the increased betting. Historically, NC sportsbooks have had double digit hold in 6 of the 8 months since launch. April had the highest hold at 16.2%, August and October are the only months with hold under 10%.
NC’s October trends matched the national trends where sportsbooks were getting killed by bettors. Low hold rates across the US is a reminder that sportsbook revenue is very volatile and can be influenced by player success during certain periods.
Despite the October revenue drop, NC sports betting is still seeing growth in player engagement as the handle is up. With the NFL and NCAA seasons in full swing, NC will likely see high betting activity in the coming months. But operators will need to focus on promotional strategies and hold management to smooth out the revenue volatility.
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