The sports betting market in North Carolina continues to expand rapidly and set new revenue records. Recently, the sector demonstrated its strength by surpassing the $800 million mark in bets for the first time. This achievement consolidates the sector’s continuous growth since its legalization.
The North Carolina State Lottery Commission (NCSLC) released its new revenue report. The document indicates that the month of October saw a record volume of $811.4 million.
The eight licensed sports betting sites in the state handled this entire amount. Furthermore, the figure represents a significant milestone, as the state legalized betting in March 2024.
How the numbers detail the growth of the betting market in North Carolina.
The NCSLC report revealed a significant increase in betting volume and winnings. Firstly, total betting revenue, which includes bonuses and promotions, reached US$811.4 million.
Revenue from paid bets, in turn, amounted to US$784.3 million. Consequently, bettors received US$728.9 million in prizes, the largest amount paid out in a single month.
The previous revenue record, of US$667 million, occurred in March 2025. That period was likely driven by the March Madness basketball tournament. In contrast, the total for October surpassed the previous mark of US$685 million by US$126 million.
The commission’s reports, however, do not detail the money wagered on specific sports. Ultimately, North Carolina collected more than $14 million in taxes during the month.
Landscape of operators and casinos
Currently, North Carolina has eight licensed online sports betting operators (OSBs). These are: BetMGM, bet365, Caesars Sportsbook, DraftKings, ESPN BET, Fanatics Sportsbook, FanDuel, and Underdog Sports. However, ESPN Bet will cease operations in the country on December 1st.
PENN Entertainment has terminated its partnership with ESPN. The company will then transfer account holders to theScoreBet.
The state also has three tribal casinos. The Harrah’s Cherokee Casino Resort and the Harrah’s Cherokee Valley River Casino & Hotel are located in the western part. The Two Kings Casino operates in temporary facilities 56 kilometers from Charlotte. Incidentally, the latter is undergoing a US$1 billion expansion, with an opening planned for 2027.
The challenge of land-based betting
When the state legalized gambling, there was great anticipation regarding the opening of physical betting shops. Locations such as the Bank of America Stadium were considered as possible sites for these operations.
However, online betting now represents a significant challenge to the traditional model. Therefore, none of the in-person projects materialized. ESPN Bet maintained an exclusive lounge at the Quail Hollow Club, but never established a proper betting shop.
