North Carolina sees record growth after legalizing sports betting
North Carolina may not be the first US state to legalize sports betting, but its consistent growth and massive surge in tax revenues have certainly made it among the most impressive.
The betting industry may once have been funneled predominantly through unofficial and unregulated channels, but the missed revenue and the dangers of grey market alternatives have pushed many states to change their stance on legalized gambling.
More than 38 US states have legalized gambling and sports betting with strong regulations to ensure players’ safety, with North Carolina joining the legalized sports betting fold in March 2024 while becoming a model of how safe gambling can really benefit participating states.
North Carolina generates millions from sports betting
Regulators backed legalizing sports betting because the money was already being poured into offshore and illegal platforms, and bringing it home instead could have major financial benefits for the state. There was an expectation of significant tax revenues being generated from sports betting, which made sense because of the lucrative nature of regulated gambling.
Indeed, North Carolina saw $6.64 billion in total bets in 2024, with gross wagering revenue of $647.7 million. This easily surpassed the more modest tax expectations in the first year by generating $116.6 million in tax revenues specifically, rewarding those in the state who’d bet on sports betting.
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Critics wondered whether the success was a fluke. But that growth has remained consistent and continued to add to North Carolina’s local economy, making it just the latest US state to experience such benefits.
Sports betting’s upwards trend isn’t strictly linear, as the market does bear some volatility. Some months, like November 2024, were stronger compared to others. August 2025, for instance, saw a $464 million handle and $9.7 million tax generation compared to a $639 million handle and $14 million tax generation of November 2024.
But even those peaks and valleys can be predictable to those who know what to look for. This is largely because of the summer sports lull in August and football season being well underway by November. For comparison, November 2025 saw a $813.97 million handle, $92.94 million gross wagering revenue, and $16.73 million tax collection, setting new records for the state.
North Carolina’s sports betting market is still maturing, and fluctuations are normal due because of varying sporting events and offseasons. Online betting sites may better buffer against that variance by running promotions to attract players, as that new player attraction is undoubtedly a key part of the market’s growth.
March 2025 saw over $202 million in betting that was affected by promotional credits from operators. Most new and maturing markets show booms in the beginning as players flock to newly-legalized options, with growth becoming more gradual once the market starts settling. The betting market in North Carolina experienced just such a boom, and its growth has continued since, giving other US states one more example of the revenues that are available to those willing to bring safe and legal markets home to their residents.
Feature image credit: Canva
Khizar Mundia has been playing video games for as long as he can recall. Things have come a long way since the many days he spent playing the original NES, though. He now covers a variety of competitive games and esports, as well as the world of streaming, ranging from Twitch to Kick. If it’s of interest to gamers, it’s of interest to Khizar.
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