May was another busy month for online sports betting, with North Carolinians wagering more than $525.5 million, according to a report released by the North Carolina Lottery Commission.
According to the report, which was compiled based on activity reported by the eight licensed interactive sports betting operators, wagering revenue paid out was more than $494.6 million, total winnings paid out in prize money was more than $458.6 million, and total wagering revenue, or the amount collected by the operators, was just over $63 million. The state levies an 18 percent tax on this amount, which means the state will collect just over $11 million in taxes. Promotional wagering revenue was just over $30.9 million.
Wagering has been down since the state first allowed sports betting, with more than $659.3 million wagered in March and $648.9 million wagered in April.
In the first three months, more than $1.8 billion was wagered with total winnings of more than $1.5 billion. Gross wagering revenue was more than $234.8 billion, pay-to-play revenue was more than $1.5 billion and promotional wagering revenue was more than $313.2 million.
Additionally, as of the end of May, each of the 13 university athletic departments in the UNC System, excluding UNC and NC State, will receive more than $820,000.
The North Carolina Department of Revenue is responsible for collecting tax revenue from sports betting proceeds.
