North Carolina sports betting operators didn’t come close to repeating the revenue haul seen in April 2024 again in 2025. To be fair, no month has matched what Tar Heel State sports betting generated in its first full month a year ago.
Key Takeaways
- Tar Heel State operators generated $576.2 million in wagers, down 11.2% from the previous year.
- College basketball had a limited effect in April, but Duke’s loss in the Final Four likely helped sportsbooks increase month-over-month revenue.
- Sports betting has led to $38 million in tax revenue for the Tar Heel State in 2025.
The North Carolina State Lottery Commission reported on Monday that eight online operators hauled in $46.8 million in revenue in April, down 55.5% from the all-time state record of $105.2 million. The second highest grossing month was November, which saw $78 million produced.
Sportsbooks in the basketball-centric state generated $576.2 million in wagers in April 2025, down 11.2% from the previous year. Duke, the favorite to win it all, was the lone in-state team to reach the men’s NCAA Final Four. The Blue Devils lost in a semifinal to Houston.
That certainly helped operators bounce back in revenue, creating $8 million more than in March. The NBA playoffs also got off to an operator-friendly start during April, which produced an 8.1% hold. That’s up from March’s 5.6% but just half of April 2024’s win rate.
| N.C. Sports Betting | Handle | Revenue | Tax (estimated) |
|---|---|---|---|
| April | $576.2 million | $46.8 million | $8.4 million |
Basketball decrease
Without a full month of college basketball, the monthly handle decreased by 15.9%. Still, March and April produced a combined $1.26 billion in wagers. That’s down from the $1.31 billion generated from the same two months in 2024, which includes just three weeks of wagering in March.
Year-to-date, online North Carolina sports betting has generated $2.4 billion in wagers, while operators FanDuel, DraftKings, BetMGM, bet365, Caesars, Fanatics Sportsbook, ESPN BET, and Underdog have made more than $215 million in revenue since January. The Tar Heel State has yet to introduce retail sports betting or pari-mutuel wagering.
More in the coffers?
The commission estimated that sports betting led to $8.4 million in tax revenue for North Carolina. The Tar Heel State has filled its coffers with more than $38 million in 2025 and over $94 million since the fiscal year began in July.
Lawmakers are looking for a way to use sports betting to bring in even more money. The Senate passed a state budget last month that would increase the tax rate on the eight online operators from the current 18% to a proposed 36%. The budget, which would go into effect on Oct. 1, has to work through the House and then have any changes approved by the Senate.
