North Carolina Sports Betting Numbers Dip in December

21.01.2025

North Carolina’s sports betting market took a slight step back in December, with total wagers hitting $629.5 million, down 5.7% from November. Despite the drop, it was the third month in a row that bets surpassed the $600 million mark.

Lower Revenue Due to Big Wins for Bettors

While betting activity stayed high, sportsbook revenues took a hit. The hold rate, or the percentage of money sportsbooks keep after payouts, was just 5.8% in December—the second-lowest since sports betting launched in the state in March 2024.

This meant gross gaming revenue (GGR) came in at $35.7 million, and tax contributions totaled $6.4 million, also the second-lowest since launch.

For comparison, August’s revenue was lower at $33.8 million, but the betting handle that month was almost half of December’s total.

NFL Favorites Cashing In

One of the main reasons for the drop in sportsbook revenue was the strong performance of NFL favorites throughout December. Bettors across North Carolina—and the nation—benefited from a string of predictable results, leading to larger payouts and slimmer margins for sportsbooks.

This bettor-friendly trend rippled across the industry, with Flutter Entertainment, the parent company of FanDuel, even announcing it would lower its 2024 financial guidance due to similar results. December turned out to be a tough month for operators nationwide.

The reported numbers only cover online sports betting, which drives most of North Carolina’s sports wagering market. Retail betting, available at tribal casinos, isn’t taxed by the state and isn’t included in these figures.