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Thunderstorms, some with heavy rain this evening followed by occasional showers overnight. Storms may contain strong gusty winds. Low 68F. Winds WNW at 5 to 10 mph. Chance of rain 100%..
Thunderstorms, some with heavy rain this evening followed by occasional showers overnight. Storms may contain strong gusty winds. Low 68F. Winds WNW at 5 to 10 mph. Chance of rain 100%.
Updated: June 30, 2024 @ 8:45 pm
Month three of legalized sports gambling in North Carolina has brought state coffers more than $11 million, pushing the 82-day total above $42 million for the state.
The gross wagering revenue — the amount received by interactive sports wagering operators from sports wagers as authorized under state law, minus the amounts paid as winnings before any deductions for expenses, fees or taxes — in May was $63,080,347. The state taxes that at 18% — $11,354,462.
March’s 21 days of activity generated $11,969,318, and April brought in another $18,945,301, the North Carolina Lottery Commission said in a news release.
Bettors won $458,667,635 on more than $525 million gambled.
Promotional wagering revenue has steadily declined from more than $202 million the first month, to nearly $80 million in April and just over $30 million in May.
State law spells out the use of the state’s proceeds, starting with $2 million annually to the Department of Health and Human Services for gambling addiction education and treatment programs; $1 million annually to the North Carolina Amateur Sports to expand youth sports opportunities; $300,000 annually to each of 13 state public school collegiate athletic departments; and $1 million annually to the N.C. Youth Outdoor Engagement Commission, which awards grants.
Finally, there are certain reimbursements to the state Lottery Commission and Department of Revenue for expenses incurred to implement and administer the new law. Of the remaining revenue, 20% goes to the 13 public collegiate athletic departments; 30% to a new fund to attract major events, games and investments; and 50% to the state’s General Fund.
