Sports betting thrives in North Carolina, generates millions in revenue and funding for programs

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Sunday, April 21, 2024
Sports betting thrives in North Carolina
The state is getting an 18 percent cut of the $66 million in revenue left after winnings are paid out.

RALEIGH, N.C (WTVD) -- Sports betting is bringing in a lot of money to North Carolina.

The General Assembly approved legislation last year to make gambling on sports legal in the Tar Heel State. Legalized sports betting launched on March 11.

NC became the 38th state to legalize sports gambling and the 30th to allow for mobile gaming.

The numbers -- from the North Carolina State Lottery Commission -- speak for themselves:

  • North Carolinians wagered $659 million in March
  • $590 million was paid out in winnings

The state is also getting an 18 percent cut of the $66 million in revenue left after winnings are paid out.

Some of North Carolina's 'cut' will go toward gambling addiction treatment, youth and college sports programs and the state's general fund.

Despite the excitement, the North Carolina Lottery Commission knows sports betting can open the door to gambling addiction for some.

WATCH | Sports betting in NC launches this week, responsible gaming tools offered

With Monday's launch, many companies licensed to operate in the state, like FanDuel, are working to make their deals more enticing.

So, they've put proactive measures in place for that reason.

Each company granted a license to operate in NC must:

  • Have a responsible gaming program, which includes a feature called self-exclusion. This allows people to exclude themselves from placing wagers.
  • Provide responsible gaming training to its employees and provide information about gambling addiction resources in its marketing

Companies also are not allowed to target their marketing to people under 21.

According to Yale Medicine, men are much more likely to have a gambling problem than women, especially for sports betting.

If you need any information about gambling addiction resources, click here.