North Carolina Sports Betting Revenue Rebounds in August

North Carolina’s sports betting market posted a significant recovery in August, reversing a July slump and recording strong year-on-year growth in both revenue and handle. The improvement followed one of the weakest months since the state launched online wagering in March 2024, offering regulators and operators a clearer indication of the market’s resilience as the industry begins to stabilize. Analysts point to both seasonal betting patterns and the return of major sporting events as key factors in the month-to-month rebound.

 

Category	August 2025	Change vs. July 2025	Change vs. August 2024
Gross Wagering Revenue	$54.1M	+138.3%	+60.1%
Total Handle	$478.7M	+29.2%	+29.2%
Hold Rate	12.86%	↑ from 6.13%	↑ from 9.1%
Tax Revenue	$9.7M	Higher	Higher

 

The Developments

According to figures released by the North Carolina State Lottery Commission, gross wagering revenue reached $54.1 million in August. That total was up 60.1% from August 2024, underscoring the rapid growth of the state’s relatively new sports betting market. The August total was also more than double July 2025’s record low, when revenue fell to just $22.7 million amid a slower sports calendar. The year-on-year and month-to-month comparisons suggest that while the market is still volatile, its trajectory remains upward.

Total handle, the amount wagered by players, also saw a sharp increase. Bettors placed $463.8 million in paid wagers during August, and with the addition of $14.8 million in promotional bets, the total handle climbed to $478.7 million. That figure marked a 29.2% increase compared to the same month last year, while also improving by the same percentage against July 2025. The strong handle points to growing engagement from players and steady consumer demand, despite fluctuations in operator revenue caused by variable sports outcomes.

The market’s hold rate—operator revenue as a share of total handle—stood at 12.86%, significantly higher than both August 2024’s 9.1% and July 2025’s 6.13%. A higher hold rate generally reflects more favorable results for sportsbooks, as bettors won back a smaller share of their wagers. While this can vary month to month based on sports results, the August figure highlights how operator performance can swing widely depending on outcomes and player behavior.

Further data shows that players received back $420.6 million in winnings, while cancelled or voided bets totaled $4 million. In terms of public benefit, August sports betting generated $9.7 million in tax revenue for North Carolina. These funds are directed toward state programs, including education and youth sports initiatives, making sports betting revenue a growing contributor to public finances. The jump in August’s tax income compared with July reflects how even modest changes in wagering activity can have a measurable fiscal impact.

 

North Carolina sports betting revenue hit $54.1 million in August 2025, marking a 60% year-on-year increase and a sharp rebound from July’s record low.

 

The Future

North Carolina does not publish operator-specific results, which makes it difficult to assess individual market share. However, the state is home to major national brands including FanDuel, DraftKings, Bet365, BetMGM, ESPN Bet, and Fanatics. These operators compete in areas such as promotional spending, odds pricing, and user experience, but the lack of transparency means their exact performance in North Carolina is left to industry estimates.

The state legalized online sports wagering in March 2024, joining a growing list of jurisdictions that have regulated the sector in recent years. Since launch, North Carolina has shown strong early adoption, aided by its size as one of the largest new markets in the Southeast. August’s results indicate that while monthly swings are likely, particularly in slower sports periods, the long-term growth prospects remain strong. With the start of the NFL and college football seasons in September, industry observers expect handle and revenue to continue rising into the fall.