A month after the Tar Heel State’s eight online sportsbooks churned out a 13.4% win rate, North Carolina bettors fought back in July.
Key Takeaways
- North Carolina sports betting year-over-year revenue fell by 46.2%.
- July’s handle was up 8.8% from the same month in 2024 but down 14.4% from June.
- Bettors enjoyed a better win rate but didn’t wager enough in July to take full advantage.
Operators recorded a 6.1% hold to kick off the second half of 2025, the second-lowest win rate year-to-date. The North Carolina State Lottery Commission recently reported that operators took home gross revenue of $22.7 million, the lowest ever generated in the Tar Heel State, from a $370.4-million handle in July.
North Carolina sports betting operators dominated in May and June, racking up over $123 million in profits during the NBA and NHL playoffs. With mostly MLB, the year’s last golf major, and one NFL preseason game to attract bettors, the handle fell a predictable 14.4% month-over-month. However, the amount wagered increased 8.8% compared to July 2024.
Year-over-year revenue, though, fell off by a whopping 46.2%. The previous record low for monthly profits since wagering launched in March 2024 was produced in August 2024, when operators hauled in $33.5 million, more than $10 million more than July’s meager earnings.
| N.C. Sports Betting | Handle | Revenue | Tax (estimated) |
| July 2025 | $370,385,588 | $22,679,993 | $4,082,399 |
| July 2024 | $340,375,353 | $42,226,041 | $7,600,687 |
Hold history
Operators’ July hold was cut in half compared to the same month in 2024, and only March’s 5.6% win rate is lower, coming after a wildly successful run by bettors during the NCAA Tournament.
North Carolina sportsbooks have only produced three holds under 7% in 17 months of operation. Even though bettors turned their fortunes around, their $344.6 million in account-holder returns is down from the previous month’s $372.1 million and the lowest since August 2024’s $333.7 million.
There weren’t enough dollars wagered to take full advantage of the sportsbooks’ lowered win rate compared to the previous two months.
Tax revenue plummets
North Carolina opened its new fiscal year by filling its coffers with an estimated $4.1 million, down significantly from June’s $10.4-million tax haul. The monthly proceeds were the lowest accrued in 2025, but the Tar Heel State still eclipsed $60 million in tax revenue year-to-date.
Operators paid out an 18% rate after deducting more than $3 million in canceled/voided wagers. Promotional spending of $8.8 million, which is not deducted from taxable revenue, was the lowest of the year and down from June’s $12.4 million, signifying the summer slowdown.
Other news
Online sports betting action will ramp up in late August when college football kicks off, but it doesn’t appear retail wagering will get off the ground any time soon in the Tar Heel State. Carolina Hurricanes CEO Brian Fork said last month he doesn’t think in-person betting windows will “materialize” in a state that’s become comfortable with mobile wagering.
Also, FanDuel, one of the state’s online operators, recently donated $200,000 to fight food scarcity in North Carolina, and the Catawba Tribe’s Two Kings Casino partnered with the Carolina Panthers in July.
