North Carolina Sports Betting Revenue Drops to $46.8 Million in April

North Carolina sports betting numbers dropped sharply in April 2025 compared to the record-setting results seen in the same month a year ago. Despite a slight bounce from March thanks to the NBA playoffs and Duke’s NCAA Final Four run, the April figures fell far short of the high bar set in 2024.

Good to know

• April 2025 revenue hit $46.8 million, down 55.5% from April 2024.
• Wagers for the month totaled $576.2 million, an 11.2% year-over-year drop.
• The state may double its operator tax rate from 18% to 36% starting October.

According to the North Carolina State Lottery Commission, the state’s eight online sportsbooks brought in $46.8 million in revenue for April 2025. That is more than $58 million lower than April 2024, when sportsbooks generated $105.2 million—still the highest monthly total since the market launched.

While Duke’s Final Four appearance added some betting momentum, it was not enough to replicate last year’s energy when the market had just launched in full force. In terms of betting handle, sportsbooks accepted $576.2 million in wagers during April 2025, down 11.2% compared to the same month in 2024.

Hold improves from March

Despite lower volume, operator hold improved from March. Sportsbooks held 8.1% of wagers in April compared to 5.6% the previous month. That gain helped push revenue up about $8 million from March, although it was still far below the win rate of 16.2% seen in April 2024.

Without a full month of college basketball, the total handle fell 15.9% from March to April. Still, the combined March-April handle reached $1.26 billion, down slightly from $1.31 billion for the same stretch last year.

North Carolina collected an estimated $8.4 million in tax revenue from April’s betting activity. For the 2025 calendar year, tax revenue now exceeds $38 million. Since the start of the state’s fiscal year in July, total tax receipts from sports betting have surpassed $94 million.

To raise even more revenue, lawmakers are now eyeing a tax rate increase. The North Carolina Senate recently passed a budget plan that would raise the tax on sports betting operators from 18% to 36%, with the proposed change set to take effect on October 1 if it clears both chambers and avoids changes in reconciliation.

Since January 2025, North Carolina online sportsbooks—led by FanDuel, DraftKings, BetMGM, bet365, Caesars, ESPN BET, Fanatics Sportsbook, and Underdog—have handled $2.4 billion in wagers and generated more than $215 million in revenue. The state still does not allow retail or pari-mutuel wagering.