North Carolina Sports Betting Dips in April, Handle Down 11% from 2024

A Mixed Bag for April

Players cashed out $525.3 million in winnings, leaving operators with a gross betting revenue of $46.8 million. At the state’s 18% tax rate, that translated to $8.4 million in tax dollars.

While the handle drop stung, revenue jumped 22% from March’s $38.1 million, adding $8 million to operators’ pockets. The state’s tax haul also grew by $1.7 million from March’s $6.9 million.

April was a rollercoaster, but operators still came out ahead, sums up the vibe. A solid 8.1% hold rate, up from 5.6% in March, helped boost revenue despite fewer bets.

Month-to-Month Swings

Compared to March 2025’s $667.1 million handle, April’s $576.2 million marked a 15.9% slide, shedding nearly $107 million. The dip makes sense. March rode the wave of NCAA basketball’s March Madness, while April leaned on the NBA playoffs’ early rounds for action.

But even with less betting, operators banked more. That 8.1% hold rate, fueled by favorable NBA playoff outcomes, let sportsbooks keep a bigger slice of the pie.

The $46.8 million revenue haul was a bright spot, climbing 22.8% from March. Tax revenue followed suit, hitting $8.4 million, a tidy jump from $6.9 million.

Year-Over-Year Blues

April 2025 didn’t stack up to April 2024’s blockbuster numbers. Last year’s $648.9 million handle dwarfed this year’s $576.2 million, and revenue took a bigger beating, plummeting 55.5% from $105.2 million.

The 2024 figures were juiced by a red-hot launch period after North Carolina legalized online betting in March 2024, with players flooding sportsbooks.

This year, the market’s settling into a steadier groove, but the jackpot-driven highs of 2024 were tough to match. Still, the state’s $8.4 million tax take, while solid, reflects the revenue drop. Since launching, North Carolina’s betting market has generated over $751.9 million in gross revenue, pumping $135.4 million into state coffers.