October marked the first full month of football for North Carolina digital sportsbooks – and revenue dropped $21.4 million (£16.6 million/€20.2 million) despite handle rising $36.6 million against September.
According to the North Carolina revenue report released today (12 November), the differentiator was hold, which was the lowest since sports betting went live in North Carolina. In September, sportsbooks had a 12.2% hold rate, but in October that number dropped to 8%. Operators across the US have lamented a tough October with bettor-friendly results during quarterly earnings calls.
In North Carolina, which launched sports betting operators in March, October was the first full month with football games every week. The NFL season kicked off on 5 September, meaning that the first Sunday of that month had no games.
With regard to hold, North Carolina operators have eclipsed double-digits in six of the eight months since launch. August and October are, so far, the only sub-10% hold..
