Share this Post
Recapping this year’s payout
The first full year of legal sports betting in NC came to a close on March 11, and the numbers are in—big time. Since its launch in the Tar Heel State, the industry has seen a whopping $6.6 billion total wagers placed, with NCers raking in over $5.85 billion in winnings. But the real MVP? The economic benefit to the state.
With an 18% tax on gross wagering revenue, NC has already banked over $128 million, with the funding heading to a number of public programs, including collegiate and youth sports, tourism and attractions—plus $2 mill locked in for the NC Problem Gambling Program to keep wagering habits healthy.
With the Carolina Hurricanes’ partnership with Fanatics, the betting buzz in the Cap City has only grown, and stakes are slated to get even higher with March Madness checking in at the Lenny this week. And Raleigh isn’t just hosting top-tier hoops—it’s also seeing a betting boom as fans wager on their brackets, adding even more energy (and cash) to the local economy. Historically, this tournament has pumped $10 million into Raleigh per event—even before the introduction of legalized sports betting.
To wit, the industry is upping the ante for sports outside the run-of-the-mill college athletics: The NC Lottery Commission is working to roll out pari-mutuel horse race wagering, adding yet another avenue for bettors.
Overall, one thing remains sure: Sports wagering is turning out to be a big-time player for bettors and the economy alike.
Related Articles
Share this Post