Legal sports wagering in North Carolina is on pace to deliver a record-breaking $142 million to the state by the end of its second full fiscal year—a 22.3% increase over last year’s total of $116.5 million. The impressive rise underscores the rapid growth of the industry since its launch in March 2024.
In December alone, the state collected more than $14.6 million in tax revenue from sports betting, pushing the fiscal year’s total to $71.3 million. With an average daily tax intake exceeding $387,000, December marked the third-highest month since the industry began operating. Only April and November of 2024 recorded higher returns.
Total wagers for December topped $651.1 million, while bettors won $581.3 million. That left gross wagering revenue at $81.5 million, based on the 18% tax applied to adjusted gross revenue—defined as revenue after winnings, but before operator expenses or taxes. Promotional credits accounted for $14.7 million during the month.
The state’s top-performing months for tax revenue to date are April 2024 ($18.9 million), November ($16.7 million), December ($14.6 million), October ($14 million), and November 2024 ($14 million). The consistency of these monthly earnings suggests that North Carolina’s sports betting market is entering a period of maturity and stability.
State law mandates specific uses for the sports wagering revenue. Among the designated allocations: $2 million annually funds gambling addiction prevention and treatment via the Department of Health and Human Services; $1 million supports North Carolina Amateur Sports to expand youth athletic opportunities; and each of the state’s 13 public university athletic departments receives $300,000 annually.
Additionally, $1 million is allocated yearly to the North Carolina Youth Outdoor Engagement Commission to fund grants, while about 30% of proceeds go toward attracting major sporting events to the state.
With more than $71 million already banked halfway through the fiscal year, North Carolina appears set to cement its position as a top-tier sports betting state.
