December sees lowest hold rate for North Carolina sportsbooks since market launch

Sportsbooks in North Carolina experienced their lowest hold rate since legal betting began, with a 5.8% win rate in December, according to the latest report from the North Carolina State Lottery Commission. This marks only the third time the hold has dipped below 10% since the state introduced legal sports betting in March 2024.

The December report also highlighted that bettors placed $629.5 million in wagers, the third-highest monthly total since sports betting became legal in North Carolina. However, the low hold rate significantly impacted operator and state revenues. Bettors won back $590.9 million, leaving operators with $35.7 million in gross gaming revenue (GGR), the second-lowest figure on record.

Promotional play deductions further reduced taxable revenue, with sportsbooks writing off $16.4 million during the month. As a result, operators contributed $6.4 million in taxes to the state, also the second-lowest monthly total since legal betting began.

For comparison, previous months with similarly low tax revenues—August and June 2024—saw lower betting volumes of $367.5 million and $395 million, respectively, but higher hold rates of 9.2% and 10.2%.

December’s handle represented a 4% decline from November, and the reduced hold cut operator and tax revenues to less than half of November’s totals.

The North Carolina State Lottery Commission does not provide a breakdown of wagers by sport or operator. The report reflects activity from the state’s eight licensed online platforms. Retail sports betting, which is permitted at tribal casinos, is not subject to state taxes and is excluded from these figures.

In November, North Carolina had its second-best month for sports betting handle since launch, with state bettors wagering a near-record $657.7 million. The figure is second only to March's $693.3 million, the month when sports betting went live in the state.

Of November's total, bettors laid down $638.7 million, with the remaining $19 million accounting for promotional play. While the overall figure is down from the aforementioned March record, it must be noted that in that month bettors wagered $456.7 million in real-money bets and $202.6 million in promotional play.