North Carolina’s Sports Betting Landscape: A Deep Dive into the Fiscal Year 2025
In the fiscal year 2025, North Carolina saw substantial engagement in sports betting, achieving a notable hold of 9.75%.
Throughout this period, residents placed over $6.6 billion in wagers, translating to nearly $650 million in gross revenue. This impressive figure marks the first complete financial year since North Carolina officially launched its online sports betting market in March 2024.
According to the North Carolina State Lottery Commission’s statistics, the total handle from sportsbook operators reached approximately $6.64 billion by the end of June 2025. Notably, the state recorded $222.5 million in promotional wagering revenue, while $38.8 million in bets were voided, reflecting the dynamic nature of the betting environment. After returning $5.95 billion to players, the state retained $647.7 million in revenue.
These figures culminated in a 9.75% hold rate, contributing to $116.6 million in tax revenue for the state from sports betting activities.
Trend Analysis: Handle Decline in June
As FY25 wrapped up, June presented a marked shift, with a handle dipping to a ten-month low at $433.2 million. Although this figure was 8.8% higher compared to the previous year, it signified a 23% drop from May’s numbers.
During the month, approximately $2.9 million in bets were canceled, with players receiving back $372.2 million. This left the gross wagering revenue at $58.1 million—a 44.2% increase year-on-year, despite being 10.9% lower than the previous month. The hold for June stood at 13.41%, with tax contributions hitting $11.5 million.
Prominent operators like FanDuel, DraftKings, BetMGM, and Fanatics continue to dominate the North Carolina market, shaping the betting landscape as it evolves.
As the state navigates through these figures, the robustness of its sports betting environment remains evident, raising intriguing questions about its future trajectory and continued growth potential.