In a groundbreaking development, North Carolina has seen a massive surge in sports betting activity in its first month of legalization. According to the NC Lottery Commission, a staggering $659,308,541 was wagered on sports from March 11 to March 31, with winnings totaling $590,750,303. These numbers have far exceeded initial expectations, putting North Carolina on the map as a major player in the sports betting industry.
Comparatively, other states like Ohio and Maine reported lower figures in their first month of legalized sports betting, with Ohio wagering over $1 million and Maine $40 million. North Carolina’s impressive numbers have solidified its position as a key player in the growing sports betting market.
The state has also outlined plans for the allocation of proceeds from sports betting activities. A state tax of 18% on gross wagering has generated $66,496,213 in revenue for the state. A portion of these proceeds will be allocated to various initiatives, including funding for gambling addiction education and treatment programs, expansion of youth sports opportunities, and support for collegiate athletic departments at 13 state universities.
Additionally, funds will be directed towards the North Carolina Youth Outdoor Engagement Commission to support grants for sporting events and programs. Any remaining proceeds will be distributed among state universities, a Major Events Fund, and the state’s General Fund to further support job creation and investment in North Carolina.
Overall, the success of North Carolina’s first month of legalized sports betting has not only exceeded expectations but also paved the way for significant investments in education, sports, and economic development in the state.