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With almost $575 million in wagers placed by bettors, September saw a notable uptick in sports betting activity in North Carolina. With this surge, sports betting has reached its third-highest level since online wagering launched on March 11, a notable comeback from the summer months.
One important factor driving the increase in betting interest is the return of football, which is largely to blame for the surge in wagering. Approximately $538 million of all the bets made in September were paid out, making it the second-highest monthly total ever, only surpassed by April’s $569 million. Over $12 million in tax income was collected in September by the eight state-licensed sports betting companies combined. This is a substantial increase over August’s totals, nearly doubling the amount collected in August.
Thanks to an 18% tax rate on gross gaming revenue, North Carolina has collected over $75 million in tax revenue since sports betting was introduced in the state. This increase in wealth highlights how well-liked sports betting is becoming in the area.
The summer months, particularly June, July, and August, saw a slowdown in sports betting activity, with monthly wagers dipping below $400 million. During this period, tax revenues fell below $8 million each month due to a lighter sports calendar. However, the return of popular events like football has revitalized the betting landscape, leading to a marked increase in engagement.
The North Carolina State Lottery Commission oversees sports betting regulations in the state but does not disclose specific performance data for individual sports or operators. Interestingly, the surge in betting activity aligns with an uptick in calls to the state’s problem gambling helpline, which has reported record-high volumes since the online betting launch. This indicates a growing need for responsible gambling resources as interest in sports betting continues to rise.