North Carolina Sports Betting Sees Strong January with $646.9 Million in Wagers
In January 2025, North Carolina’s sports betting industry recorded $646.9 million in total wagers and $74.5 million in operator revenue. This is the second-highest monthly revenue total in the state’s history, trailing only November 2024.
Strong Revenue Growth Driven by Higher Hold Percentage
January’s handle of $646.9 million ranked as the fourth-highest monthly total since the market opened. However, operator revenue surged 108.7% compared to December.
Bettors won $568.5 million, while sportsbooks benefited from a higher hold rate of 11.05%, nearly double December’s 5.67%.
Since launching in March 2024, the state’s sports betting market has seen over $6 billion in total wagers, generating more than $650 million in revenue for operators and $113 million in tax revenue for the state.
State Tax Revenue and Promotional Spending
North Carolina collected $13.4 million in tax revenue from sports betting in January, making it the second-highest monthly tax contribution since the market’s launch.
Additionally, sportsbooks invested heavily in promotions, with $23.6 million allocated to player incentives.
Other key figures from January included:
- Canceled bets totaled $3.9 million, reflecting minor fluctuations in market activity.
- Total betting volume from September to January reached $3.1 billion, generating $307 million in revenue for operators.
With continued growth and increasing state revenue, North Carolina’s sports betting industry is on a strong trajectory heading into 2025.
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