North Carolina Sets New Sports Betting Record in October

North Carolina sports betting operators reported $811.4 million in wagers for October, setting a new monthly record and marking the strongest performance since the market launched. The figure is 18.5% higher than the previous record of $685 million set in March and represents a significant jump in customer activity heading into the fall sports season. Analysts attribute the surge to a combination of seasonal sports, promotional offers, and a growing market presence of major operators.

According to data released by the North Carolina State Lottery Commission, October’s handle was also 32.6% higher than October 2024 and 18.3% above September. The increase underscores the state’s rapid adoption of regulated sports betting and suggests increasing consumer engagement.

 

• Record-Breaking Handle: North Carolina sports betting hit $811.4 million in October, setting a new monthly record—18.5% higher than the previous high in March and 32.6% above last year’s October.

• Revenue Growth: Operators generated $78.1 million in gross wagering revenue for October, a 60.4% increase year-over-year, though still below the all-time revenue record of $105.3 million set in April 2024.

• Year-to-Date Expansion: From July to October, North Carolina bettors wagered $2.35 billion, producing $221.7 million in operator revenue and $39.9 million in tax income, signaling sustained market growth and increasing consumer engagement.

 

Revenue Climbs, but Short of All-Time High

Of the total handle, $784.3 million came from paid wagering, while operators issued $27.1 million in promotional bets. Cancelled and voided wagers reached $4.3 million, reflecting standard adjustments and bet reversals. Bettors received $729 million in payouts, leaving operators with $78.1 million in gross wagering revenue.

Year-over-year, revenue rose 60.4%, and month-over-month it increased 16.9%. Despite this growth, October did not surpass the revenue record of $105.3 million set in April 2024, falling 25.8% below that mark. The operator hold for the month stood at 11.4%, and the state collected $14.1 million in tax revenue from sports betting. These figures highlight the ongoing expansion of the market while showing that seasonal peaks still play a significant role in revenue fluctuations.

For the fiscal year covering July through October, North Carolina bettors have wagered $2.35 billion, including $2.26 billion in paid wagering and $82.8 million in promotional bets. Cancelled and voided bets totaled $15.5 million, and players collected $2.11 billion in winnings, resulting in $221.7 million in revenue for operators active in the state. This reflects an overall hold of 9.45% and has generated $39.9 million in tax income so far this fiscal year. The robust year-to-date performance suggests that North Carolina’s sports betting market is on track to surpass $7–8 billion in total handle by the end of 2025, assuming seasonal trends hold and major sporting events continue to drive engagement.

The commission does not release operator-specific market share data, but several leading brands are active in the state, including FanDuel, DraftKings, Fanatics, ESPN Bet, Bet365, and BetMGM. Their presence reflects the competitive nature of the market, as companies leverage promotional offers, live betting, and digital platforms to attract customers. Analysts note that the entry of national operators has likely contributed to the surge in handle and overall revenue.

 

October’s record-setting handle reflects North Carolina’s rapidly growing sports betting market, with both seasonal sports and expanded operator offerings driving increased consumer engagement.

 

Seasonal Trends and Market Outlook

October’s record-setting handle coincides with the peak of college and professional football seasons, which historically drive higher betting volumes. The market has also benefited from aggressive digital marketing campaigns and increasingly user-friendly mobile betting platforms.

Looking ahead, industry analysts expect the market to maintain steady growth, particularly as more residents gain access to legal sports betting and the state continues to refine regulatory frameworks. While revenue fell short of the April record, the month’s performance demonstrates strong market maturity and suggests that future records may be set as high-profile events like the Super Bowl and March Madness approach.

October’s results indicate that North Carolina’s sports betting market is not only expanding in terms of handle but also generating significant tax revenue for the state, reinforcing its role as an emerging leader in the U.S. regulated sports betting landscape.