RALEIGH, N.C. (WTVD) — North Carolinians have bet more than $1 billion on sports in the two months since the state legalized the operation.
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. This amount increases to $1.308 billion after taking advantage of “promotional wagers,” which are incentives offered by companies for new products. 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.
The Associated Press contributed to this report.
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