$647.7M in Sports Betting Revenue for North Carolina

North Carolina’s legal sports betting market generated nearly $650 million in gross revenue during its first full financial year, according to data released by the North Carolina State Lottery Commission. Between July 1, 2024, and June 30, 2025, sportsbooks in the state took in $6.64 billion in wagers, producing a hold rate of 9.75%.

The 2025 fiscal year marked the first complete year of operations for online sports betting in North Carolina, following the market’s launch in mid-March 2024. Over the 12-month period, bettors were refunded $5.95 billion, while $222.5 million came from promotional credits. An additional $38.8 million in wagers were voided.

 

Total Handle	Gross Revenue	Promotional Wagers	Voided Bets	Payouts	Hold %	Tax Revenue
$6.64 Billion	$647.7 Million	$222.5 Million	$38.8 Million	$5.95 Billion	9.75%	$116.6 Million

 

The resulting gross wagering revenue for the year totaled $647.7 million. Of that, the state collected $116.6 million in taxes. The North Carolina State Lottery Commission does not disclose revenue or performance by operator. However, prominent national sportsbooks such as FanDuel, DraftKings, BetMGM, and Fanatics are among those active in the market.

June 2025 marked the weakest betting month in terms of handle since August 2024. Bettors in North Carolina wagered $433.2 million, down 23% from May’s total. Despite the monthly decline, handle was still up 8.8% year-over-year.

Players received $372.2 million in payouts for the month, and sportsbooks reported $58.1 million in gross revenue. That figure represented a 44.2% increase compared to June 2024, though it was 10.9% lower than in May 2025. Voided bets in June accounted for $2.9 million. The monthly hold rate stood at 13.41%, noticeably above the fiscal year average. The state collected $11.5 million in tax revenue for the month.

 

North Carolina’s first full year of legal sports betting saw $6.64 billion in wagers and nearly $650 million in revenue, marking a strong start for the state’s regulated market,

 

Market Outlook

North Carolina’s nearly 10% hold aligns with broader U.S. market averages, suggesting stable operator margins in the state’s early stage. With more than $6.6 billion in annual handle, the state ranks among the more active sports betting markets nationwide despite its recent entry.

The 2026 fiscal year will offer the first true year-over-year comparison for stakeholders watching how handle, hold, and tax revenue evolve as the market matures.