North Carolina’s sports betting operator gross revenue spiked a massive 128.3% year-over-year in December 2025.
Key Takeaways
- North Carolina’s online sportsbooks surpass $80 million in gross revenue for the third consecutive month.
- December’s handle increases by a more modest 5.8%.
- 2025 saw tremendous sports betting growth, especially during football season.
The North Carolina State Lottery Commission recently reported that eight online sportsbooks generated $81.5 million in monthly profits compared to $35.7 million in December 2024. It was the third consecutive month that operators surpassed $80 million in revenue, a first since the Tar Heel State launched online wagering in March 2024.
The soaring profits came on a $665.9 million handle, which was up 5.8% from the previous December but dropped off significantly from the record $813 million wagered in November 2025.
North Carolina's gross revenue was also down 12.2% from the previous month, which was the second-highest of all time.
December was also the last month featuring Underdog Sports, which ended its traditional sportsbook offerings in the middle of the month.
| N.C. Sports Betting | Handle | Revenue | Tax (estimated) |
|---|---|---|---|
| December 2025 | $665,908,417 | $81,514,515 | $14,672,613 |
| December 2024 | $629,520,784 | $35,717,877 | $6,429,218 |
Hold stays high
December marked the fifth consecutive month with a double-digit hold and the eighth out of the last nine.
North Carolina sports betting operators’ 12.2% hold was a big leap from the 5.7% win rate produced during the same month in 2024.
The latest hold was also the second-highest generated in 2025, and there have only been three better win rates turned in the 22 months of online wagering.
North Carolinians won back $581.3 million of the December handle, their lowest return since August. Promotional wagers dropped from $22.3 million in November to $14.8 million in December. The $3 million in canceled/voided bets was also down around $400,000 from the previous month.
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Year of growth
More than $7.2 billion was wagered in North Carolina’s first full calendar year of sports betting. 2025’s average handle of $604 million was a significant increase from 2024’s $541.7 million per-month average.
Sportsbooks hauled in $746.5 million in gross revenue for the year, and nine of the 12 months produced double-digit holds for operators. The final four months of 2025, which consisted of the bulk of the latest football season, generated 44.4% of the entire year’s profits, and those four months generated $3 billion in wagers, up from $2.4 billion from the same period in 2024.
The Tar Heel State is expected to receive over $134 million in estimated tax revenue for 2025.
