Sports Betting

Online Betting in North Carolina Totals Nearly $650M In April

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Online Betting in North Carolina Totals Nearly $650M In April

Online betting in North Carolina totaled $648.93 million in its first full month of April following its March Madness debut, according to the North Carolina State Lottery Commission (NCSLC). 

North Carolina saw $105.25 million in gross wagering revenue, $538.4 million in amounts paid as winnings in April

The $648.93 million total includes both paid wagering revenue and promotional wagering revenue. From those wagers, winnings totaled $538.4 million.

North Carolina also finished April with $105.25 million in gross wagering revenue and $5.28 million in void wagers. It should be noted that legalized online betting first began in the state on March 11. 

Compared to March, April fell short in winnings by approximately $52.3 million and short in overall bets wagered by $10.37 million. While the total handle is down 1.6% from March, gross wagering revenue increased 53.8% last month. 

North Carolina has an 18% tax rate on the gross wagering revenue of each licensed sports wagering operator. The NCSLC is responsible for the regulation of all sports wagering in the Old North State. 

Tax proceeds from betting in the Tar Heel State are allocated to fund problem gambling treatment, youth sports

Tax proceeds from gross sports wagering revenue are allocated to benefit the state. About $2 million is funded annually to the Department of Health and Human Services for gambling addiction education and treatment programs. 

Another $1 million is also donated annually to North Carolina Amateur Sports to expand opportunities in youth sports. Up to $300,000 annually is given to collegiate athletic departments at 13 state universities.

North Carolina became only the fifth state in the post-PASPA era to surpass $100 million in monthly operator revenue, joining New York, Ohio, New Jersey and Illinois. 

The Tar Heel State was second fastest to reach the mark among the five. It was the ninth time in 2024 a state reported more than $100 million in monthly operator winnings.

There are currently eight online licensed sportsbooks in the state: bet365, BetMGM, Caesars Sportsbook, DraftKings, ESPN BET, and Underdog.