North Carolina Made $12 Million From First Legal Sports Betting Month

• Sports Betting revenue numbers are available for North Carolina’ first month with online sports betting.
• The state lottery commission’s report showed more than $659 million in handle from March 11 to March 31.
• North Carolina earned roughly $12 million in sports betting taxes for the month.

CHARLOTTE, N.C. – Revenue numbers from North Carolina’s first legal sports betting month are finally here after the state launched mobile sports betting on March 11. The North Carolina State Lottery Commission reported over $659 million in legal sports betting handle across just 20 days of betting.

Promotional betting made up $202.6 million of the $659.3 million bet in March. Locals capitalized on the North Carolina sports betting bonuses, with promotional betting making up 30% of total online wagering.

No Statistics For Individual Online Sports Betting Operators

North Carolina is one of few states with a sports betting report that doesn’t include a breakdown of sports betting numbers by operator. The state currently has no plans on sharing this information in the future, but they’re enjoying a profitable first month of mobile sports betting.

The eight North Carolina sports betting operators paid out $590.75 million in winnings to bettors, leaving a remaining $66,496,213 in gross betting revenue. Thanks to the Tarheel State’s 18% tax rate, North Carolina made $11,969,318 in sports betting tax revenue for the month of March.

Where Does North Carolina Sports Betting Tax Revenue Go?

Although we emphasized the North Carolina sports betting impact before launch, the tax revenue alone will greatly benefit the state. The end of the 2024 March sports betting report breaks down the annual use of tax proceeds from betting revenue as follows.

• $2 million for gambling addiction education and treatment programs
• $1 million for youth sports
• Up to $300,000 for college athletics at 13 North Carolina universities
• $1 million for Youth Outdoor Engagement Commission

Remaining proceeds will be distributed between:

• 50% to state general fund
• 30% to Major Events, Games, and Attractions Fund
• 20% divided evenly among 13 state universities’ athletic funds.

News tags: North Carolina | North Carolina State Lottery Commission