(WGHP) — The numbers are out. Since it was legalized on March 11, sports betting in North Carolina exceeded $1 billion in April.
All gambling involves risk. North Carolinians lost about $105 million last month, but there could be big rewards as well.
North Carolina will get 18% of the $105 million paid to sportsbooks. If you do the math, North Carolina State got $19 million in April. North Carolina received a total of about $31 million in gross gaming revenue, which is a significant amount in the first 50 days of legalized sports betting.
“I would say that North Carolina has certainly exceeded expectations in terms of how sports betting is taking off in North Carolina,” said Robert Linehan, sports betting regulation reporter for Sports Betting Dime.
Mr Linehan was surprised that the amount people bet in April remained very close to the amount bet in March.
“We have to keep in mind that this is a historically weak sports betting season,” he said.
From March 11th to March 30th, shortly after launch, bettors wagered approximately $659 million.
“We had the NCAA Tournament,” Linehan said.
April saw a slight decrease to $649 million.
“Interest in sports betting remains very high in North Carolina,” he says.
“It’s very exciting for a lot of people. I know they’ve been waiting to work on this,” said Amanda Winters, state Problem Gambling Administrator.
Despite its popularity, there are also concerns. Winters not only tracks calls to gambling helplines, but also revenue data.
“We’re seeing an increase in calls because we have a helpline in place for every advertisement run by the carriers,” Winters said.
So while the state has seen a 77% increase in calls to gambling helplines, it’s also important to consider that FanDuel, DraftKings, and other operators are simply sharing those numbers.
“We’ll have a better idea within three to six months, but it could be several years,” Winters said of gambling’s impact on the state.
It could also take several more months of data to find out what the state’s median income will be.
“You’ll see we don’t want to say there’s a significant decline in May, but we don’t expect the May numbers to reach the April numbers,” Linnehan said.
The main parts of state revenue are:
- Each year, $2 million is donated to Amanda Winters, who works for the North Carolina Department of Health and Human Services, for gambling addiction education and treatment.
- $1 million donated to youth sports each year
- $300,000 per year will be donated to 13 universities, including North Carolina A&T State University, UNC Greensboro and Winston-Salem State University. If a country receives a certain amount of revenue, it can earn more money.
- 30% of remaining proceeds will go to the state Games, Events and Attractions Fund
- The remaining half of the revenue goes directly back into the state’s general fund.
Early state estimates put North Carolina’s revenue in the first year at about $64 million. If you calculate it again, the state has already reached half way.
