how did it achieve a $6.64 billion handle in FY25?
North Carolina’s sports betting market has seen explosive growth in its first full fiscal year, reaching an impressive $6.64 billion in handle. This milestone comes as the state’s legal online sports betting market celebrates its first full 12-month period since launching in March 2024.
The figures are noteworthy, with $647.7 million in gross revenue and a 9.75% hold for the fiscal year. Despite a dip in June’s handle to a 10-month low, the state saw a year-on-year increase of 8.8%. A remarkable $116.6 million in tax revenue was generated, signaling the state’s growing appetite for sports betting.
Prominent operators such as FanDuel, DraftKings, BetMGM, and Fanatics are active players in North Carolina, contributing significantly to the market’s success. As the state continues to build on its momentum, what’s next for North Carolina’s thriving sports betting sector?
