Athletes in North Carolina. Source: Spectrum News

North Carolina Bets $649 Million in First Month of Legalization

The North Carolina State Lottery has released its first full-month report on legal online sports betting, revealing substantial activity in April. Bettors in the state wagered nearly $649 million, generating gross gaming revenue (GGR) of $105.3 million.

Operations officially began in North Carolina on March 11, coinciding with the NCAA men's and women's basketball tournaments. Compared to March, operators had more withholdings in April, paying out $538.4 million in winnings on $649 million in bets, up from $590.8 million on $659.3 million in March.

North Carolina taxes digital operators at a rate of 18% of gross receipts, though the state has not yet disclosed tax revenue figures.

The report also indicated a significant drop in advertising expenses in April. On March 11, eight platforms went live, including all major operators. Underdog Sports made its betting debut in North Carolina, while Bet365 expanded its operations to its 10th state.

20 May 2024, 13:40

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