Sports betting activity down in NC in May

May was another busy month for online sports betting as North Carolinians wagered over $525.5 million, according to a report released by the North Carolina State Lottery Commission.

The report, compiled by activity reported by eight licensed interactive sports wagering operators, showed that paid wagering revenue was over $494.6 million, the total paid as winnings was over $458.6 million, gross wagering revenue, or the amount operators collected, was a little over $63 million. The state levies an 18% tax on that amount, which means the state will collect over $11 million in taxes.  The promo wagering revenue was just over $30.9 million.

Source: North Carolina State Lottery Commission.

Bets wagered have slowed down since the initial opening of sports betting in the state. In March, over $659.3 million was wagered, followed by $648.9 million in April.

Totals in the first three months nclude over $1.8 billion wagered, with total winnings of over $1.5 billion. Gross wagering revenue was over $234.8 billion, paid wagering revenue was over $1.5 billion, and promo wagering revenue was over $313.2 million.

Also, as of the end of May, each of the 13 college athletic departments in the UNC System, excluding UNC and NC State, will receive over $820,000.

The NC Department of Revenue is responsible for collecting the tax proceeds from sports wagering revenue.

The post Sports betting activity down in NC in May first appeared on Carolina Journal.

 

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