Mobile
Online sports betting in North Carolina experienced a slight dip in hold rate this May. Nevertheless, the overall revenue numbers are still a strong sign of steady growth. With NC fans well accustomed to placing bets on major leagues now, local authorities are keeping an eye on the numbers.
The overall metrics provide a key measure of what the long-term impacts on consumer behavior could be. It’s been just over a year and a few months now since mobile sports betting was legalized in the state. It’s safe to say, it’s been a hit. However, the overall hold rate has dropped slightly since inception.
As one of the most active new markets, the state’s data indicates a slight decline in May. However, all this does really is underscore an industry still finding its rhythm.
Comparing Options Beyond Traditional Sportsbooks
With the buzz around legal betting, some North Carolinians are also checking out alternative gaming models. For those who find real-money casino gaming too risky, sweepstakes-based platforms, where users buy virtual coins and play casino-style games to win prizes, are gaining popularity. These online games work under a different legal structure than traditional online casinos, enabling them to exist in states with tighter gambling laws.
Many players consult professional review sites for a list of sweepstakes casinos on trusted platforms. According to gaming expert Viola D’Elia, these services offer slots and table games with a twist: players use a virtual currency system to play for potential rewards, rather than wagering directly with real money.
This style of gameplay makes sweepstakes casinos a popular option in states like North Carolina, where there are still restrictions on traditional online casino gaming. On the other hand, sports betting has now been legalized in North Carolina, giving punters more options for a friendly wager.
Handle High, Hold Low.
According to the North Carolina State Lottery Commission, the state’s total betting handle in May reached $562.2 million. That’s a slight drop from the $570.2 million in April, and can be due to the seasonality of sports calendars. With the NBA playoffs narrowing and college sports wrapping up, a slowdown was expected.
The bigger talking point is the hold rate: how much sportsbooks kept after paying out winnings. In May, North Carolina’s sportsbooks held 11.65% of the total handle, compared to 8.12% in April. That increase is noticeable and aligns with trends in other states, where more profitable outcomes or promotional activity winding down have led to shifts in margins.
Even with the softer hold rate, operators reported $65.2 million in gross wagering revenue, which is a strong showing. This revenue will make an important contribution to state taxes and public fund allocations.
Casino Law Still in Flux
While sports betting has received a green light, full casino gaming in North Carolina is still limited. Tribal casinos, such as Harrah’s Cherokee and Harrah’s Cherokee Valley River, operate with the backing of the Eastern Band of Cherokee Indians and the Catawba Indian Nation. They provide table games and slot machines, but the businesses are found in rural areas, hours away from any urban centers.
Legislators have debated introducing commercial casinos or a broader online casino law, but nothing has passed. In 2023, a push to authorize new casino licenses failed to gain any movement despite support from some Republican lawmakers. These efforts have all stalled because of concerns about problem gambling, local community pushback, and questions about licensing fairness.
For now, even though North Carolina’s casino revenue mostly flows through these tribal venues, revenue reports are limited to tribal disclosures and third-party estimates. Harrah’s Cherokee, for example, remains one of the top tribal casino earners in the Southeast, drawing thousands of out-of-town visitors each month.
What Comes Next?
With North Carolina’s betting market still relatively new, more fluctuations in hold rate and betting volume are likely. Regulators are going to be watching closely as sports seasons shift, operators adjust promotions, and players find more tips and tricks to get a foot up on the odds. Potential partnerships between teams and sportsbooks could also bring more visibility and advertising to this new market.
At the same time, the interest in other gambling options, like sweepstakes casinos, as well as the potential of a regulated online casino legislation, could reshape the local gambling scene over the next few years. For now, North Carolinians have plenty of options for a quick wager, through regulated sportsbooks, retail tribal casinos, or legal grey areas like sweepstakes platforms.
