NC sports betting declines for fourth month in a row

Sports betting revenue in July declined to $340 million, just over half of what North Carolinians wagered in the debut month of March 2024, according to new data from the N.C. State Lottery Commission.

The state legislature approved online sports betting in June 2023. Wagering began this year in March, aligning with the NCAA men’s and women’s college basketball tournaments.

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Bets totaled $659 million that month, boosted by $203 million in promotional wagering money provided by gaming companies to entice customers to open accounts.

The trajectory of betting revenue in North Carolina follows what other states have seen: fluctuations depending on what sports are in season and much lower promotional spending as bettors develop affinities with specific operators.

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(WATCH BELOW: House budget proposal would allow NC State, UNC to receive sports betting tax revenue distribution)