Sports betting spending still on year-over-year rise in NC; Hurricanes may give lift before summer lull

Sports wagering in North Carolina increased by 6.3% during April ahead of what is becoming a pattern of decreased interest during the spring and summer months

The state Lottery Commission reported Thursday total wagering revenue was $613.5 million during April.

Legalized sports wagering debuted in the state on March 11, 2024.

The commission tracks sports wagering based on the state fiscal year, which runs from July 1 to June 30. It discloses the monthly report without comment.

The monthly record is just under $814 million in November.

The eight sportsbooks operating in N.C. provided a combined $218 million in promotional funds in April, compared with $20.8 million in March and $15.5 million in April 2025.

Jim Tomlin, an analyst at BetCarolina.com, said Thursday that a 6.3% increase shows that even after the novelty of launch wears off, the base of active bettors is larger and more engaged than it was a year ago.

"We aren't just seeing a flash in the pan, we're seeing a market that has fundamentally expanded its footprint."

Tomlin said the 15.7% wagering decrease from March "is exactly the kind of seasonal correction we expected."

"The volume is stabilizing, but the fact that we're still clearing the half-billion mark in a non-peak month proves that North Carolina has quickly become one of the heavy hitters in the national landscape."

Tomlin said May will be an intriguing wagering month given the NHL's Carolina Hurricanes are a favorite to win the 2026 Stanley Cup playoffs.

"As long as there's playoff hockey for the Hurricanes, it gives local bettors a reason to stay in the app," Tomlin said.

"A deep run by the Canes won't completely offset the loss of football or college hoops, but it certainly helps soften the blow of the summer decline by keeping the local 'sweat' alive in the NHL markets."

Core April details

Bettors won $544.5 million in April, down from $646.6 million in March, but up from $525.5 million a year ago.

The monthly record is $729 million during October 2025.

Gross wagering revenue to the sportsbooks was $64.6 million, down from $75.9 million in March, but up from $46.8 million a year ago. The monthly record is $92.9 million in November 2025.

Gross wagering revenue is defined as the amount operators receive from sports wagers, minus the amounts paid out as winnings, after deducting expenses, fees and taxes.

Since the start of legalized mobile sports wagering, state residents have won $13.64 billion through April 30.

Meanwhile, bettors have spent $15.12 billion on wagers, also through April 30.

The seven sportsbooks are: Betfair Interactive (operating at FanDuel); BetMGM; Crown NC Gaming (operating at DraftKings); FBG Enterprises Opco. (operating at Fanatics Sportsbook); Hillside North Carolina (operating at Bet365); Penn Sports Interactive (operating as theScore Bet); Tribal Casino Gaming Enterprise, an enterprise of the Eastern Band of Cherokee Indians operating as Caesars.

The estimated tax proceeds were $11.6 million, down from $13.7 million in March. The monthly record is $16.7 million in November. 2025.

Supporters of legal betting, particularly bipartisan legislative sponsors, envisioned the revenue generated would serve as a modest supplement to the state's General Fund.

Lawmakers said the money could help offset recent reductions in corporate and individual income taxes.

Legislative analysis of House Bill 347, which authorized sports wagering, projected about $40 million in annual tax revenue in 2024 and more than $100 million annually by 2029.

However, the total to date has been $258 million, according to the N.C. Revenue Department. That includes $116.6 million for fiscal 2024-25 and $121.5 million so far in fiscal 2025-26.

Two years of legal mobile sports wagering in North Carolina has proven to be a revenue winner for most parties, in particular the UNC System athletics departments outside the Tar Heels and Wolfpack.

As of Jan. 31, $56.22 million in sports betting tax revenue has gone to 13 UNC System universities that includes Appalachian State, N.C. A&T State, UNC Greensboro and Winston-Salem State.

Each athletics department's allocation is $4.33 million as of Jan. 31, according to the N.C. Revenue Department.

Those funds are being credited with assisting in resolving athletic department revenue shortfalls, sustain services, and finance infrastructure upgrades.

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