North Carolina releases August 2024 sports betting activity

(PRESS RELEASE) -- The North Carolina State Lottery Commission on Monday released its sports betting revenue report for August.

The report compiles the sports betting revenue in August as submitted by the eight licensed interactive sports betting operators.

Between 1-31 August, account holders in North Carolina bet $370,484,774 on sports events, including paid wagering revenue and promotional wagering revenue.

From those bets, account holders won $333,707,885.

State law levies an 18 percent tax on the gross wagering revenue generated by sports betting activity. Gross wagering revenue is a total of amounts received from sports wagers less the amounts paid as winnings before any deductions for expenses, fees, or taxes.

In August, the gross wagering revenue was $33,751,015. After the 18% tax rate is applied, the estimated tax proceeds for the month would be $6,075,183.

The N.C. Department of Revenue is responsible for collecting the tax proceeds from sports betting revenue.