The N.C. State Lottery Commission recently released a report stating that North Carolinians have been active in the sports gambling industry, wagering over $655 million within the first three weeks of its legalization. Specifically, residents of the state placed bets totaling $659,308,541 on various sports events during this time frame, from March 11 to March 31.
This data includes both promotional and paid revenue from sports wagering activities. Officials revealed that North Carolinians managed to win $590,750,303 from their wagers, indicating a significant amount of earnings from this form of entertainment. In the month of March alone, the gross wagering revenue reached $66,496,213.
According to state law, there is an 18% tax imposed on the gross wagering revenue generated by sports betting activities. This tax is intended to regulate and monitor the industry’s financial transactions and ensure that the state receives its fair share of revenue from these activities. For a detailed breakdown of the activities from March, interested individuals can access the full report on the state’s sports wagering activities.
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