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SportsTranscript
00:00Let's start off with North Carolina as we head toward the final quarter of the year.
00:07How is sports betting's outlook been for them in 2024 and what can we expect in the future?
00:13Yeah, I think one of the more interesting things when North Carolina launched their
00:21sports betting market earlier this year, for me at least, was golf and NASCAR.
00:27And back in the springtime, Craig, we talked pretty heavily about both of those outfits.
00:33So I wanted to kind of check in and see how the golf betting was going in North Carolina.
00:39And for the Tar Heel State, it's been doing pretty well.
00:43I know the tournament there this weekend was delayed yesterday, and I know that that first
00:48round just got underway in North Carolina earlier this morning.
00:51But overall, North Carolina accounts for about 8% of all golf bets nationwide.
00:58So with a top 20 market overall, North Carolina, in terms of sports betting handle widespread,
01:07that 8% of total golf bets coming from North Carolina puts it as a top 5 golf market nationwide.
01:15So certainly over-indexing in golf betting.
01:19Now overall, golf betting, the PGA Tour told me a couple weeks ago, overall golf betting
01:24nationwide is up 20%, which is right in line with the overall sports betting landscape.
01:31We've seen about 20% year-on-year volume increase, and a lot of that has to do with a lot of
01:38these larger states, more popular states coming online in the last year or so, you know, Massachusetts,
01:46Ohio, Kentucky comes to mind.
01:48So when I looked into the numbers, there are a handful of states that do break out
01:53individual sports-specific statistics, golf being one of them in a handful of states,
02:00and that looked to be more along the lines of about a 10% increase.
02:05But overall, golf betting is up.
02:08Now, when you look at the entire landscape of sports betting, I think to kind of gauge
02:15success for individual sports, you want to see how much of that overall piece of the
02:21pie is growing.
02:23Now, while total volume is up, like I've said, that overall market share for golf isn't necessarily
02:31up.
02:32And in fact, in 2022, golf had 1.43% of overall sports betting in 2024.
02:42So far, it's been 1.35%.
02:45Now, it's worth mentioning that we don't have eyes in every single state in terms of specific
02:53golf betting figures.
02:54There's four, five, maybe six states that break it out.
02:59But in talking to the PGHOR, they are really banking on the live betting markets.
03:05We've seen the live betting menu for golf grow substantially over the last six, eight,
03:1212 months.
03:13So they're really banking on that, and they did tell me they're not declaring any sort
03:17of victories just yet in North Carolina four or five months in, but they are rather pleased
03:23with the growth in golf betting, especially from the Tar Heel State, Craig.