State Lottery Commission releases March sports wagering activity report

Published 4:33 pm Friday, April 19, 2024

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RALEIGH – The first month of legalized mobile betting in North Carolina saw in excess of 650 million dollars wagered.

On Tuesday of this week, the North Carolina State Lottery Commission released its first monthly sports wagering activity report. The report compiles the sports wagering activity in March as submitted by the eight licensed interactive sports wagering operators.

Between the start of sports wagering in North Carolina at noon on March 11 through March 31, North Carolinians wagered $659,308,541 on sports events, including paid wagering revenue and promo wagering revenue.

As a result of the wagering, North Carolinians won $590,750,303.

State law places an 18 percent tax on the gross wagering revenue generated by sports wagering activity. Gross wagering revenue is a total of amounts received from sports wagers less the amounts paid as winnings before any deductions for expenses, fees, or taxes. In March, the gross wagering revenue was $66,496,213.

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

The North Carolina General Assembly, via General State Statute §105-113.128, directed that the tax proceeds from gross sports wagering revenue will be allocated to benefit the state as follows:

$2 million annually to the Department of Health and Human Services for gambling addiction education and treatment programs.

$1 million annually to North Carolina Amateur Sports to expand opportunities in youth sports.

Up to $300,000 annually to collegiate athletic departments at 13 state universities, including Appalachian State University, East Carolina University, Elizabeth City State University, Fayetteville State University, N.C. Agricultural & Technical State University, N.C. Central University, University of North Carolina at Asheville, University of North Carolina at Charlotte, University of North Carolina at Greensboro, University of North Carolina at Pembroke, University of North Carolina at Wilmington, Western Carolina University, and Winston-Salem State University.

$1 million annually to the North Carolina Youth Outdoor Engagement Commission for grants of up to $5,000 per team or group, per county, to help cover the cost of travel to in-state or out-of-state sporting events and grants of up to $25,000 to attract amateur state, regional, area, and national sporting events, tournaments, and programs.

Certain reimbursements to the N.C. State Lottery Commission and the N.C. Department of Revenue for expenses incurred to implement and administer the new law.

Of any remaining proceeds, 20 percent will be distributed evenly among the 13 state universities to support collegiate athletic departments; 30 percent will go to a new North Carolina Major Events, Games, and Attractions Fund to foster job creation and investment in the state; and 50 percent to the state’s General Fund.

The March activity report is available on the Commission’s website at