While it was just the third NCAA Tournament ever in North Carolina with legal sports betting, the latest month with the basketball competition was the best the Tar Heel State has seen.
Key Takeaways
- North Carolina sports betting revenue increased 99% compared to March 2025.
- Duke and UNC getting bounced from the NCAA Tournament helped the spike.
- The state generated nearly $14 million in tax revenue.
The North Carolina State Lottery Commission reported on Wednesday that the seven online sportsbooks generated $726.2 million in wagers, a 6% year-over-year handle increase and the first over $700 million since November 2025.
Operators’ gross revenue in the basketball-centric state reached an all-time March high of $75.9 million and spiked a massive 99% compared to the same month in 2025.
It certainly helped North Carolina revenue that top-seeded Duke didn’t make it to the semifinals and UNC failed to win an NCAA Tournament game. The 10.4% hold was nearly double what operators produced in March 2025 and extended a double-digit win rate streak to eight months.
| N.C. Sports Betting | Handle | Revenue | YoY rev. change |
|---|---|---|---|
| March 2026 | $726,174,802 | $75,918,638 | +99.2% |
Promo spending up
Despite North Carolina online sports betting operators’ NCAA Tournament success, bettors still won back $646.6 million, their highest monthly payout since November. Sportsbooks also enjoyed a 16.2% year-over-year bump in promotional spending.
FanDuel, DraftKings, BetMGM, Fanatics, Caesars, theScore Bet, and bet365 dolled out a combined $20.8 million in free bets, the most in 2026. Bettors wagered another $705.4 million of their own money, while nearly $3.7 million in bets were canceled or voided during March.
March’s promotional spending also increased by more than $6 million from February, which held Super Bowl LX.
Massive growth
North Carolina sports betting has experienced significant growth over the last two years. The Tar Heel State filled its coffers with $13.7 million from the 18% tax rate on online operators, pushing the year-to-date total to nearly $39 million.
N.C.’s tax revenue for the first three months of 2026 is up 60% from the same period last year. The latest tax haul is also $2 million more than March 2024, when online sports betting launched in the Tar Heel State.
While legal wagering only operated for three weeks in that first month, sportsbooks made $63 million from a $525.5 million handle, down 38% from the latest amount wagered.
