North Carolina has seen a surge in sports gambling activity since the state law legalized it two months ago. A recent report revealed that people in the state have bet over $1 billion on sports through authorized gambling operators, generating tens of millions of dollars in state revenue. The initial losses faced by customers have contributed significantly to this amount.
The North Carolina State Lottery Commission, responsible for regulating the betting activities, shared that gamblers placed bets totaling $1.026 billion on sports events using smart phones and desktops from March 11 to April 30. The total amount wagered increases to $1.308 billion when including “promotional wagers” offered to entice new customers to gamble.
Customers have won a total of $1.129 billion in winnings, with paid winnings for April being $53.3 million lower than those from the three weeks in March when gambling was first permitted. The gambling operators authorized to accept bets have earned $171.7 million in gross wagering revenue, leading to $30.9 million in tax revenue for the state, which amounts to an 18% cut.
The state law, passed in 2023 to legalize sports betting, mandates that a portion of the government’s proceeds be allocated to athletic departments at 13 University of North Carolina system schools, as well as to amateur sports programs and gambling addiction education and treatment. Additionally, the legislation enables in-person sports wagering, statewide horse race betting, and live horse racing, although these provisions have not yet been implemented.
Prior to the enactment of the law, sports betting in North Carolina was only legal at three casinos operated by two American Indian tribes. This report is subject to copyright by The Associated Press and may not be published or redistributed without permission.
