North Carolina Sports Betting Overview
In 2024, North Carolina legalized online sports betting. Regulated by the North Carolina State Lottery Commission, the state has eight online sportsbooks, including FanDuel, DraftKings, Fanatics, Bet365, BetMGM, ESPN Bet, Caesars, and Underdog Sportsbook (local brand).
The first year of online sportsbook betting generated $583.6 million in Gross Gaming Revenue (GGR), and the state government, due to the 18% tax rate, collected over $105 million in taxes.
Use of Tax Revenue
North Carolina's government is transparent about how it uses the taxes generated by sports betting. The breakdown looks like this:
- $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.
- $1 million annually to the North Carolina Youth Outdoor Engagement Commission.
- 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% will be distributed evenly among the 13 state universities to support collegiate athletic departments.
- 30% to a new North Carolina Major Events, Games, and Attractions Fund to foster job creation and investment in the state.
- 50% to the state’s General Fund.
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North Carolina