North Carolina Breaks October Sports Betting Record with $811.4 Million in Wagers
Record-Breaking Sports Betting Activity in North Carolina
In October, North Carolina’s sports betting scene reached a new milestone as gaming operators handled a remarkable $811.4 million in total wagers. This achievement not only set a monthly sports betting record for the state but also surpassed the previous record of $685 million established in March by an impressive 18.5%.
Details Behind the State’s Sports Betting Growth
Data from the North Carolina State Lottery Commission reveals that $784.3 million of the wagers were paid bets placed by players, complemented by an additional $27.1 million in promotional bets offered by operators. Meanwhile, $4.3 million worth of bets were cancelled or voided throughout the month. Players earned payouts totaling $729 million, resulting in a gross wagering revenue of $78.1 million for October.
This revenue represented a 60.4% increase compared to October of the previous year and was 16.9% higher than September’s revenue. However, it was still below the all-time high of $105.3 million reached in April 2024. The overall hold rate for the month stood at 11.4%, alongside the generation of $14.1 million in tax revenue from sports betting activities.
Impressive Profit Growth Fuelled by Increased Betting
The surge in betting activity positively impacted revenues for both operators and the state. The eight online sportsbooks operating in North Carolina reported gross revenues of $78.1 million in October, marking a 60.7% year-over-year increase and securing the position as the second-largest monthly revenue total in state history after April 2024.
This marked the fifth consecutive month where revenues exceeded $70 million, with October’s figures showing a 17% increase over those of September. The strong sportsbook performance also contributed to robust state tax collections, generating $14.1 million in October alone. With an 18% tax rate on operator revenue, North Carolina has amassed over $100 million in tax income in 2025 and more than $200 million since the launch of sports betting in March 2024.
Sustained Growth Throughout the Year
Between July and October, total sports betting turnover in North Carolina reached $2.35 billion. Of this, $2.26 billion comprised paid wagers, supplemented by $82.8 million in promotional bets. Cancellations and voids accounted for $15.5 million, while players collected over $2.11 billion in winnings. This activity resulted in $221.7 million in revenue for operators and reflected a hold rate of 9.45%.
During this period, state tax collections from sports betting totaled $39.9 million, highlighting the overall healthy and expanding nature of North Carolina’s sports betting market in 2025.
