North Carolina Sports Betting Revenue Jumps Rapidly

North Carolina’s regulated sports betting market delivered a sharp increase in revenue in December, with sportsbooks reporting a 128% year-on-year rise in gross wagering revenue, even as overall betting activity showed only modest growth, according to newly released data from the North Carolina State Lottery Commission. The state recorded $665.9 million in total wagering handle during the month. While this figure represented a 5.8% increase compared with December 2024, it remained well below the state’s single-month record of $814 million wagered in November 2025, underscoring a seasonal slowdown following the peak of the fall sports calendar.

Of the December handle, $651.1 million came from standard paid wagers, while $14.8 million was generated through promotional betting credits. The commission also reported $3 million in cancelled and voided wagers, and players received $581.4 million in winnings and returned stakes during the month.

After accounting for payouts and adjustments, gross wagering revenue reached $81.5 million, more than doubling the $35.7 million posted in December 2024. However, the December total was still 12.3% lower than November’s revenue, which had benefited from heavier betting volumes and favorable sportsbook margins. North Carolina’s monthly revenue record remains $105.3 million, achieved in April 2024. The state’s sportsbooks finished December with a hold rate of 12.24%, a strong result by industry standards and a key factor behind the substantial revenue growth. Based on December’s performance, the state generated an estimated $14.7 million in tax proceeds from sports betting activity.

The sharp rise in revenue despite limited growth in total handle highlights how sportsbook profitability is strongly influenced by hold rate performance. While consumers wagered only slightly more than a year earlier, operators retained a significantly higher share of those wagers, translating into much stronger financial results. This dynamic reflects the inherent volatility of monthly sportsbook earnings, which are shaped not only by betting volume but also by the outcomes of sporting events and customer betting behavior.

December’s results show that North Carolina sportsbooks significantly increased profitability despite only modest growth in total betting volume.

First-Half Fiscal Data Shows Market Expansion

The commission also released aggregated figures for the first six months of the fiscal year, covering activity through the end of December. During that period, North Carolina bettors placed $3.83 billion in wagers, marking a 20.1% increase compared with the same period in 2024. Gross wagering revenue for the six-month period totaled $396.2 million, up 28.4% year-on-year, while the market produced an average hold rate of 11.63%, further confirming the strengthening profitability of the state’s sports betting industry.

Although the commission does not disclose operator-level performance, major national sportsbooks active in North Carolina include FanDuel, DraftKings, Fanatics, ESPN Bet, Bet365, and BetMGM. Together, the December results and first-half fiscal data indicate that North Carolina’s sports betting market continues to mature, with revenue growth now outpacing growth in overall wagering volume.