Gaming operators in North Carolina handled $811.4 million in wagers in October, setting a new monthly sports betting record for the Tar Heel State. The figure comfortably surpassed the previous high of $685 million recorded this March, marking an 18.5% increase.

North Carolina’s Sports Betting Sector Sees Significant Growth

According to data from the North Carolina State Lottery Commission, players placed $784.3 million in paid wagers during October, while operators added another $27.1 million in promotional bets. A total of $4.3 million in wagers were cancelled or voided, and players received $729 million in payouts, leaving $78.1 million in gross wagering revenue for the month.

This revenue figure was 60.4% higher than the same month last year and 16.9% above September’s total, though it fell 25.8% short of the record $105.3 million set in April 2024. Overall, the hold rate for October was 11.4%, and the commission reported $14.1 million in tax revenue generated from sports betting.

Profits Increase from the Huge Spending on Betting

With the increase in spending on sports betting, both operators and the state have also seen a significant increase in revenue. North Carolina’s eight online sportsbooks reported $78.1 million in gross revenue for October, marking a 60.7% year-over-year increase. This represents the second-highest monthly total in the state’s history, trailing only April 2024’s $105 million record. It also marked the fifth month in which North Carolina operators have collectively earned at least $70 million, with October’s total up 17% from September. 

Strong wagering and revenue figures translated into a robust month for state tax collections, with $14.1 million generated. At the state’s 18% tax rate on operator revenue, North Carolina has now collected over $100 million in taxes in 2025 and more than $200 million since sports betting launched in March 2024.

The increased spending on wagering in October follows a trend of rising spending on the state throughout the year as a whole. From July through October, total sports betting activity in North Carolina reached $2.35 billion, including $2.26 billion in paid wagers and $82.8 million in promotional bets. Cancelled and voided bets totaled $15.5 million, while players won over $2.11 billion, leaving $221.7 million in revenue for state operators and a hold rate of 9.45%.

During this period, North Carolina collected $39.9 million in taxes from sports betting. All of this data points to the betting sector in the state being in a very healthy condition in 2025.