North Carolina releases July 2024 sports betting activity

(PRESS RELEASE) -- The North Carolina State Lottery Commission today released its sports wagering revenue report for July.

The report compiles the sports wagering revenue in July as submitted by the eight licensed interactive sports wagering operators.

Between 1-31 July, account holders in North Carolina wagered $340,375,353 on sports events, including paid wagering revenue and promotional wagering revenue.

From those wagers, account holders won $295,386,205.

State law levies an 18 percent tax on the gross wagering revenue generated by sports wagering 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 July, the gross wagering revenue was $42,226,040. After the 18 percent tax rate is applied, the estimated tax proceeds for the month would be $7,600,687.

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