North Carolinians have bet more than $1 billion on sports through multiple gambling operators licensed under state law that began offering online betting two months ago, according to a report released Friday. The initial loss of customers has cost the state tens of millions of dollars in revenue.
Gamblers bet $1.026 billion on sports activities from March 11 to April 30 from smartphones and desktops, according to the North Carolina Lottery Commission, which regulates gambling. Adding in “promotional wagers” (incentives offered by companies for new products), this number increases to $1.308 billion. This includes customers who gamble.
Customers won $1.129 billion in winnings, but $53.3 million less in winnings were paid out in all of April compared to the three weeks in March when gambling was allowed, the commission report said. Stated.
Companies allowed to bet receive a total of $171.7 million in variable revenue, from which the state receives an 18% tax break. That would be $30.9 million.
A state law approved in 2023 to legalize gambling would direct a portion of government revenue to athletic departments at 13 University of North Carolina System schools, amateur sports initiatives, and gambling addiction education and treatment. It is giving instructions.
The Sports Betting Act also authorizes rules to allow in-person sports betting, statewide horse racing betting, and live horse racing. None of the three have been implemented at this time. Before this law went into effect, sports betting was legal in North Carolina only at three casinos run by two American Indian tribes.
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