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Tar Heel Today
By the People, for the People
North Carolina Sportsbooks Score Big During March Madness
Online betting handles and revenues reach new records in the Tar Heel State.
Apr. 10, 2026 at 12:38am
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North Carolina's sports betting boom fuels record-breaking March Madness wagers and revenue.Tar Heel TodayNorth Carolina's seven online sportsbooks generated a record $726.2 million in wagers and $75.9 million in revenue during March 2026, a 99% year-over-year increase. The spike was fueled by the NCAA Tournament, though the early exits of Duke and UNC helped boost the hold rate to 10.4%. Sportsbooks also spent a record $20.8 million on promotions, while bettors won back $646.6 million.
Why it matters
The strong March performance highlights the rapid growth of North Carolina's sports betting market since launching in 2024. The record tax revenue of $13.7 million will provide a significant boost to the state's coffers, while the surge in promotional spending shows operators are competing aggressively for market share.
The details
North Carolina's seven online sportsbooks - FanDuel, DraftKings, BetMGM, Fanatics, Caesars, theScore Bet, and bet365 - generated a record $726.2 million in wagers during March 2026, up 6% year-over-year. Operator revenue reached an all-time high of $75.9 million, a 99% increase compared to March 2025. The 10.4% hold rate was nearly double the previous year, as the early tournament exits of top-seeded Duke and UNC helped boost sportsbook margins.
- North Carolina launched online sports betting in March 2024.
- The NCAA Tournament took place in March 2026.
The players
North Carolina
The Tar Heel State, which has seven licensed online sportsbook operators.
Duke
A top-seeded team that failed to make the NCAA Tournament semifinals.
UNC
The University of North Carolina team that did not win an NCAA Tournament game.
What’s next
North Carolina lawmakers will likely review the record sports betting revenue and tax haul as they consider potential changes to the state's gaming laws and regulations.
The takeaway
The strong March performance highlights the rapid growth of North Carolina's sports betting market since launching in 2024. The record tax revenue will provide a significant boost to the state's coffers, while the surge in promotional spending shows operators are competing aggressively for market share.
