North Carolina has seen significant revenue from sports gambling since the ability to place online bets began two months ago. The North Carolina State Lottery Commission, which oversees the betting, reported that gamblers placed $1.308 billion in sports bets from March 11 to April 30. Despite this large amount wagered, customers have won $1.129 billion, with payouts totaling $53.3 million less in April compared to March.
The companies administering the bets have earned $171.7 million in gross wagering revenue, and the state receives 18% in taxes, amounting to $30.9 million. State law dictates that a portion of the revenue goes towards athletic departments at UNC system schools, amateur sports programs, and gambling addiction education. However, currently these provisions have not been implemented as they are only allowed at three casinos operated by two American Indian tribes in North Carolina prior to this law.
In addition to online betting, the legislation also permits in-person sports betting, statewide betting on horse races and live horse racing which are yet to be implemented. The legislation has brought about a new era of legalized gambling in North Carolina and is expected to continue generating significant revenue for the state and its citizens.
Copyright 2024 The Associated Press. All rights reserved.
Rewritten article:
Sports gambling has become a major source of revenue for North Carolina since legalization two months ago.
From March 11th to April 30th alone, gamblers placed over $1 billion in sports bets through authorized operators in the state.
When including promotional wagers, this number rose to almost $1.3 billion.
Despite this large amount being wagered, customers won over $1 billion with payouts totaling just over $50 million less than March.
The companies administering these bets earned nearly $200 million in gross wagering revenue and the state received over $50 million in taxes.
North Carolina’s law allows for both online and in-person sports betting as well as statewide betting on horse races and live horse racing but none of these provisions have been implemented yet.
Before legalization was passed only three casinos operated by two American Indian tribes were allowed to offer sports gambling within the state.
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