Sports
NC sees major decline in sports betting for month of May
NORTH CAROLINA (WBTV) – After a hot start to legal sports gambling in North Carolina, the State Lottery Commission reported a major drop in total wagering revenue for May.
In April, the lottery commission reported $648,934,226 in total wagering revenue. That number decreased to $525,548,571 in May, a 19% decline.
“Don’t expect much positive movement in the coming months, despite how fresh the market is in North Carolina,” said Steve Bittenbender, an analyst with BetCarolina.com. “The state strategically legalized betting in time for March Madness, resulting in an impressive start, but the months after do not provide much action for sports fans to wager on.”
For more context, in the first three weeks of legal sports betting, North Carolinians wagered over $655 million. Those numbers covered the state’s first day of sports wagering, March 11 through March 31.
To see the entire revenue report for N.C., click here.
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