North Carolina Sports Betting Sets New Record
North Carolina’s record in online sports betting handle lasted all of one month. The North Carolina State Lottery Commission reported that November’s $814-million handle surpassed October’s by $2.5 million to become the new all-time high for a third consecutive month.
Key Takeaways
- In a big college basketball state, the return of the sport helped the handle surpass $800 million for a second straight month.
- Online sportsbooks generated the second-highest gross revenue ever in the Tar Heel State.
- Tax revenue increased by $2.7 million in November.
November’s handle was a 27% year-over-year increase. It’s just the second time that North Carolina bettors have wagered over $800 million and the ninth time with at least $600 million. Football season has brought massive wagering in its second season in the Tar Heel State, and with the anticipated return of college basketball mixed with the NBA and NHL, it’s no surprise that the handle record fell again.
The eight online operators enjoyed a solid double-digit win percentage to keep $92.9 million in gross revenue, the second-highest monthly profit behind April 2024. November’s haul was up 18.9% compared to the same month in 2024. Since online sports betting in North Carolina launched in March 2024, operators have made over $1.2 billion in gross revenue.
North Carolina Sports Betting Data
| Category | November 2025 | November 2024 |
|---|---|---|
| Handle | $813,973,743 | $638,659,604 |
| Revenue | $92,936,199 | $78,097,705 |
| Tax (estimated) | $16,728,516 | $14,057,587 |
High Win Rates
North Carolina’s online sportsbooks turned a whopping 11.4% hold in November. While it’s the best win rate produced this football season, it’s not even in the top five highest holds the Tar Heel State has ever seen. Operators flourish in North Carolina, and lower retail holds that typically bring down that figure don’t affect a state without brick-and-mortar sportsbooks, except at tribal casinos.
November’s win rate ranks fourth in 2025 behind June’s 13.4%, April’s 11.6%, and January’s 11.5%. In 2024, North Carolina experienced four months with a 12% or higher monthly hold.
November to Remember
Bettors took home $717.5 million, a 1.5% decrease from October as operator revenue spiked 12.6% month-over-month. Online sportsbooks paid out $16.7 million in tax revenue in November, $2.7 million more than the previous month, as the yearly haul for the Tar Heel State crossed $117 million.
Promotional wagering dropped from $27.1 million to $22.3 million, and it was also down 30% from September, the first full month of football. The amount of canceled/voided wagers also dropped by nearly $1 million from October to November.
Conclusion
In conclusion, North Carolina’s online sports betting market continues to grow, with a new record handle of $814 million in November. The state’s online sportsbooks generated significant revenue, with a hold of 11.4%, and paid out $16.7 million in tax revenue. As the market continues to mature, it will be interesting to see how it evolves and whether it can sustain its current growth rate.
About the Author
Brad has been covering sports betting and iGaming industry news for Covers since 2023. He writes about a wide range of topics, including sportsbook insights, proposed legislation, regulator decision-making, state revenue reports, and online sports betting launches. Brad reported heavily on North Carolina’s legal push for and creation of online sportsbooks, appearing on numerous Tar Heel State radio and TV news shows for his insights.
Before joining Covers, Brad spent over 15 years as a reporter and editor, covering college sports for newspapers and websites while also hosting a radio show for seven years.
