Betting News

Online betting in North Carolina totals nearly $650M in April

North Carolina has remained one of the most active states in online betting since it was launched in mid-March this year. For only a single month of April, the bets placed reached a whopping $648.93 million. This was the first complete month for the state after a trial run during March Madness, as reported by the North Carolina State Lottery Commission (NCSLC). These numbers have indicated a high interest and passion for this activity by bettors in this southern state.

Although betting increased substantially in April, there was a slight drop compared to the previous month. Total betting declined by 1.6%, representing $10.37 million less than in March. Nonetheless, this slight dip did have no impact on the overall optimistic perspectives of the sports wagering market in North Carolina. However, the gross wagering revenue increased by 53.8% to $105.25 million. This growth shows that the market can earn money efficiently even though fewer bets are placed frequently. It’s an encouraging sign for sites striving to rank among the best sports betting sites USA.

Specifically, $538.4 million was paid to winners in April, and $5.28 million in bets were voided. Since the legalization of online betting on March 11, North Carolina has witnessed money coming to its betting sites, both in the form of bets and amounts paid. The legalization of sports betting not only helps to entertain the state’s betting population but also has economic benefits.

The state has established a highly profitable system by establishing an 18% tax on the gross revenue from licensed operators in the sports betting line. This model enables optimal exploitation of this new stream of income. The NCSLC is responsible for overseeing and supervising most sports betting activities to promote fairness. The tax proceeds are directed toward impactful community and state projects. Approximately $2 million annually is allocated to the Department of Health and Human Services for gambling addiction education and treatment. 

Additionally, North Carolina Amateur Sports receives about $1 million yearly to bolster youth sports programs, and up to $300,000 is distributed annually among 13 state university athletic departments.

This allocation of money from the sports betting industry shows that the state cares not only about the entertainment business but also about the welfare and growth of its citizens. Happily, North Carolina’s model provides a useful example of how to incorporate new economic activities with social value.

North Carolina has done a great job in the sports betting industry, placing itself among top states like New York, Ohio, New Jersey, and Illinois. Indeed, of all the states that legalized sports betting after the PASPA repeal in 2018, North Carolina is among the five rare states whose operators have recorded more than a hundred million US dollars in monthly revenue. 

They have achieved this noble goal much faster than their counterparts. This success is evident by the fact that nine times since 2024 alone, North Carolina has surpassed $100 million in monthly winnings, which shows that this is a thriving and highly lucrative industry.

As of now, there are eight online sportsbook brands licensed in North Carolina, including Bet365, BetMGM, Caesars Sportsbook, DraftKings, ESPN BET, and Underdog. This has made a significant contribution towards the growth of the state’s sports betting market by offering real betting choices and enhancing the betting interface. This has led to the expansion of a wide range of people who are interested in engaging in online sports betting. With this dynamic setting and environment of the industry, North Carolina is well-positioned to maintain its stake and be part of the ongoing expansion of online sports betting.

David Bright

David Bright joined Times of Casino as a news writer focused on the casino industry. He holds a bachelor degree in Economics and Accounting and currently contributing in-depth news articles. David writes on the casinos, gambling legislation, poker, and much more.

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