The North Carolina sports betting market experienced a significant year-on-year contraction in April 2025, with decreases in handle and revenue. However, monthly improvements in revenue and an improved hold rate suggest signs of stabilization.
April 2025 Market Performance Overview
North Carolina bettors wagered $576.2 million on sports during April 2025, showing an 11.2% decline from April 2024 and a 15.8% drop from March 2025. This suggests seasonal variations and a cooling market after its launch period. Wagers comprised $560.7 million in paid bets and $15.5 million in promotional bets.
Key Revenue Indicators
- Gross Revenue: April 2025’s gross wagering revenue reached $46.8 million, a drop of 55.6% compared to $105.2 million in April 2024.
- Month-on-Month Growth: Revenue increased by 22.8% compared to March 2025, showing better operations despite lower bet volumes.
- Hold Rates: The hold rate rose to 8.12% from March’s 5.78%, but remained lower than April 2024’s 16.2%.
Tax Revenue and Fiscal Contributions
The North Carolina State Lottery Commission reported $8.4 million in sports betting tax revenue in April 2025, marking a $1.7 million increase from March 2025. Since July 2024, over $5.4 billion has been wagered, generating $94.3 million in tax revenue for the state.
Market Context and Operator Landscape
The state has eight licensed sportsbooks, including major players like FanDuel, DraftKings, and Caesars. April 2025 saw limited college basketball activity, unlike 2024’s NCAA finale. However, the NBA playoffs contributed to higher operator hold rates compared to March.
Impact of April Sports Calendar
- Fewer Year-on-Year Boosts: The lack of flagship NCAA events in April 2025 impacted overall betting enthusiasm.
- NBA Playoffs: Operators benefited from increased NBA playoff activity, improving monthly revenues.
Conclusion
North Carolina’s sports betting market is adjusting post-launch, reflecting normalization trends. While April 2025 saw year-on-year declines, stronger month-on-month performance and growing tax revenues indicate long-term stability. The state collected substantial tax benefits, proving the value of regulated sports betting.
