North Carolina Sportsbooks Impress with 9% Year-Over-Year Increase

North Carolina sportsbooks attracted over $500 million in wagers for August, according to the newest figures.

The North Carolina Lottery Commission reported $520,469,336 in sports wagers for August 1-31. The figures reflect only the state’s legal, regulated sportsbooks. North Carolina has had regulated sports betting since 2024.

The August sports betting figures marked a 9% year-over-year increase compared with August 2024. Additionally, it was some 40% higher than the same month in 2024.

A Bumper August: How They Compare

The North Carolina Lottery Commission has regulated retail and online sports betting since 2024.

Three retail sportsbooks are located at Harrah’s Cherokee Casino Resort, Harrah’s Cherokee Valley River, and Catawba Two Kings Casino.

Major online sportsbooks in North Carolina include bet365, Caesars, and DraftKings.

Sports Betting Volume in NC

• August 2024: $370.4 million
• August 2025: $478.6 million
• August 2026: $520.4 million

NC Sportsbooks Pay Nearly $15B

Despite legal sports betting in North Carolina being two years old, the amount of winnings paid has impressed.

Sportsbooks have paid nearly $15 billion in winnings since launching in 2024. Additionally, they have generated over $300 million in taxes for the state coffers.

Under NC's regulated system, sportsbooks pay 23% (up from 18%) in tax on gross wagers. The tax increase was controversial but has helped the state recoup more than ever.

World Cup, NFL, NBA Help Boost Bets

The longer sports season has helped many states with regulated sports betting. The World Cup in the summer, held jointly by the U.S., Mexico and Canada, was a boon for regulated sportsbooks.

Billions of dollars were bet across online and retail sportsbooks. Trading on the World Cup final topped $1 billion on the Kalshi prediction market exchange, too.

Once the World Cup was over, the NFL season began, with MLB continuing. The NBA regular season starts in October, another time when online sportsbooks can expect high wagering activity.

Tax Revenue Dips, Prediction Market Charge Comes in

North Carolina’s legal sports betting landscape is undergoing a major change when it comes to taxes.

Not only has tax on operators increased from 18% to 23%, but NC has also introduced a tax on prediction markets. The new prediction markets tax is worth 6% of net trading fee revenue.

Additionally, in the summer, North Carolina brought in gambling loss deductions for taxpaying adults. It allows taxpayers to deduct gambling losses on their tax returns.

It’s similar to the federal proposal to allow full gambling loss deductions across all sports betting. Under Donald Trump’s ‘One Big, Beautiful Bill’ Act, only 90% of gambling losses are tax-deductible.

NC Fines Two Sportsbooks

Not all news was good for North Carolina sportsbooks this month. Two of the state’s regulated online sportsbooks were fined for breaking NC gaming law.

UK betting giant bet365 was fined $75,000 for contacting customers who had self-excluded. In the same week, Underdog Sports was fined $175,000 for failing to verify 38 accounts opened by underage gamblers.

Underdog Sports was one of the original sportsbooks to go live when North Carolina legalized sports betting. However, it surrendered its license in late December, after which news of the underage customers surfaced. The $175,000 fine is the largest issued since NC regulated iGaming.