North Carolina Hits Betting High in March with $685 Million in Wagers
North Carolina’s sports betting scene smashed records in March, clocking a hefty $685 million in wagers, the state’s biggest handle yet. That’s a 3.9% jump from the $659.3 million set in March 2024, when online betting kicked off legally on March 11.
Record Handle, Smaller Returns
But the cash didn’t flow as thick for operators this time. Gross revenue landed at $38.1 million, a steep 42.7% drop from last March and 31.6% off February’s haul.
With a hold rate of just 5.6%, the lowest since launch, operators kept less, and the state pocketed $6.9 million in taxes. It’s a mixed bag: more bets, less payday.
Since going live last year, North Carolina’s racked up a solid $7.2 billion in total wagers through March 2025. That’s fueled $135 million in tax revenue from eight operators, a big win for a state that’s funneled the cash into education, youth sports, and addiction programs.
What’s Driving the Shift?
The handle’s climb isn’t a shock. March Madness pumps betting every year, and North Carolina’s ACC roots keep fans hooked. But that 42.7% revenue plunge from March 2024’s $66.5 million? That’s a head-scratcher. Operators hit a 10.09% hold back then, nearly double this year’s 5.6%.
Bettors had a good month all over the country, and operators didn’t earn much. Either way, the state’s $6.9 million tax take still adds to a $30.3 million year-to-date haul.
Since launch, the state’s averaged an 8.98% hold across $1.9 billion wagered in 2025 so far
A Push to Rein It In
North Carolina’s not just counting cash. It’s wrestling with betting’s fallout. House Bill 828, floated this week, aims to clamp down. It targets “prop bets” on college and Olympic sports.
The bill also wants to block betting inside college venues, from eight hours pre-game to the final whistle. UNC hoops star Armando Bacot faced social media heat from losing bettors, and the NCAA flagged similar gripes nationwide.
Rep. Pricey Harrison, a bill co-sponsor, ties it to addiction fears too. She’s called gambling a potential “opioid crisis” since 2023 debates. The state’s already pumped $2 million yearly into addiction help, but HB 828’s backers say more guardrails could curb harassment and hooked players.
It’s early, no hearing’s set, but it’s a sign North Carolina’s checking its bet. If it passes, college prop bets could vanish, shifting the action to pro games or out-of-state books.
Recommended