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North Carolina sports bettors were excited about the return of football and placed large wagers in September. A three-month summer slump came to an end this month when bettors wagered over $575 million, marking a notable comeback. The eight licensed operators in the state reported collecting more over $12 million in tax money, which is double the amount earned in August.
The total of $575 million wagered in September places it behind only March ($659 million) and April ($648 million) in terms of monthly figures. Online sports betting officially kicked off in North Carolina on March 11, and since then, the interest has fluctuated with the sports calendar. September’s impressive figure includes both promotional and paid wagers, with the $538 million in paid bets ranking as the second highest in the state, just behind April’s $569 million.
North Carolina has amassed over $75 million in taxes since sports betting began, which is a notable achievement. The state imposes an 18% tax on gross gaming revenue, contributing significantly to the overall state budget.
The summer months saw a notable decline in betting activity. This drop was not unexpected, given the lack of basketball and football during those months. Wagering for June, July, and August fell below $400 million, and tax revenues were also impacted, remaining below $8 million each month. This decline contrasted sharply with the activity observed in the first two months following the launch.
In addition, the summer months saw an increase in calls to the North Carolina problem gambling helpline, with records breaking in April, May, and June. As more people participate in sports betting, this increase brings attention to the continued difficulties associated with compulsive gambling.
The state’s resilience as football season approaches is indicative of an increasing interest in sports betting. North Carolina looks to be well-positioned for continued expansion in the gaming industry with an emphasis on responsible gambling policies, thanks to the return of popular sports.