North Carolina’s sports gambling industry has seen a significant growth since its inception two months ago, with over $1 billion wagered on sports activities. The report released on Friday revealed that the North Carolina State Lottery Commission, which oversees the betting, stated that gamblers placed $1.026 billion in bets from March 11 to April 30. When factoring in “promotional wagers” offered to new customers, the total amount wagered rises to $1.308 billion.
Although customers have won $1.129 billion, the total amount paid out in winnings for April was $53.3 million less compared to March. The companies authorized to accept bets have made $171.7 million in gross wagering revenue, with the state receiving an 18% tax on this revenue, totaling $30.9 million. The state law passed in 2023 directs a portion of these funds to athletic departments at 13 University of North Carolina system schools, as well as amateur sports programs and gambling addiction education and treatment.
While North Carolina’s sports gambling industry is booming, it has not yet expanded to include all options allowed by law. Currently, only online sports betting is available through authorized gambling operators. However, statewide horse race betting and live horse racing are also legal under the new law but are not currently offered anywhere in the state.
Despite initial losses by customers, the early success of North Carolina’s sports gambling industry is leading to substantial revenue for the state.
In conclusion, since its launch two months ago, North Carolina’s sports gambling industry has been a massive success with over $1 billion wagered on sports activities through various authorized gambling operators within the first month alone. With ongoing growth and expansion into other forms of gambling such as live horse racing and statewide horse race betting