October is a month where sports betting handle soars, so it comes as no surprise that North Carolina and Tennessee recorded all-time monthly bests, according to figures released by their respective state agencies.
Tar Heel State sportsbooks have not been facing a sophomore slump when it comes to wagering after accepting $811.4 million worth of bets, according to the North Carolina State Lottery Commission. That bettered September’s short-lived standard of $686.1 million as it became the ninth state to post an $800 million monthly handle.
Tennessee operators reported $658 million in gross handle, according to the state’s Sports Wagering Council. It was the Volunteer State’s first foray into $600 million territory, with the previous high of $594.4 million coming last September.
Both states saw eight-figure inflows into their state coffers. North Carolina tax receipts totaled $14.1 million from operator revenue totaling $78.1 million. Tennessee, which continues to be the only state with commercial sports betting to levy taxes on handle versus revenue, reaped $12.1 million from its 1.85% rate on $653.7 million in adjusted handle.
N.C. sportsbooks keep status quo
The N.C. State Lottery Commission does not break out any operator handle and revenue figures, but their collective 9.6% hold stuck closely to the year-to-date 9.7% win rate. Revenue was up 61.2% from last year, keeping pace with the national trends of stronger operator performance compared to October 2024.
Tar Heel State sportsbooks were among the few who outperformed national metrics in September as month-over-month winnings increased only 17%. That lagged slightly behind the 18.3% bump in handle.
Operators continued to aggressively court business as the $27.1 million outlay in promotional credits and bonuses was up 18.1% compared to last year and the sixth-highest total in 20 months of wagering. It accounted for 3.3% of handle, down from 3.8% last year and a sharper decline compared to September’s year high of 4.7% when total promo spend equaled almost $32 million.
Vols a bright spot on the sports scene
Tennessee bettors have long been ardent college sports fans with their flagship school playing in the Southeastern Conference. The Volunteers football and men’s basketball programs are ranked in the AP Top 25, serving as a partial catalyst for higher handle within the usual increases that come with football and the busier part of the sports calendar.
The 20.1% surge is all the more impressive considering all three of the state’s professional sports teams are struggling. The Tennessee Titans are an NFL-worst 1-9, the NBA’s Memphis Grizzlies are 4-10 after splitting their first six games in October, and the NHL’s Nashville Predators are tied for last in the Central Division following a 4-6-2 start in October.
The $1.9 billion wagered in the first four months of Fiscal Year 2026 is up 13.2%, which has contributed to a $3.8 million increase in tax receipts versus the same period in 2025. Year-to-date wagering is up 14.6% to $4.67 billion, and the $85.8 million in tax revenue is a $10.1 million increase from the first 10 months of 2024.
The Sports Wagering Council publishes no operator information for handle. It also does not collect revenue data since state tax is levied on handle.
