In May, sports bettors in North Carolina wagered tens of millions more than they did in May 2024 even with a sharp decline in promotions from operators.
RALEIGH, N.C. β Sports bettors wagered nearly $550 million in paid bets in May, far exceeding gambling activity in May 2024, a sign that the industry is still growing in North Carolina.
Online sports betting launched in March 2024 with massive promotions from the stateβs eight legal operators. Even as those promotional deals have declined, total wagering revenue has climbed.
In May 2024, bettors wagered $494.6 million in paid bets and another $31 million in promotional wagers for a total of $525.5 million. Last month, the total amount wagered was $562.2 million.
Operators paid an estimated $11.7 million in taxes, calculated as 18% of the operatorsβ gross wagering revenue. The budget passed by the North Carolina Senate seeks to double the tax rate to 36%. The North Carolina House budget keeps the rate flat. The two chambers are working toward a compromise budget.
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