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State Collects $128 Million in Taxes from Sports Betting in First Year
One year after the legalization of sports betting in North Carolina, the industry has generated over $713 million in gross wagering revenue, contributing $128 million in state tax proceeds. These funds are being distributed to education, youth sports, and problem gambling programs across the state.
How Sports Betting Revenue is Allocated
According to the N.C. State Lottery Commission, North Carolinians have placed over $6.6 billion in bets, with players winning more than $5.85 billion in the first year of legal wagering. The state applies an 18% tax on gross wagering revenue, ensuring significant financial contributions to public programs.
Among the key beneficiaries:
- UNC System Schools: Thirteen state universities receive up to $300,000 annually, with 20% of remaining funds split among them.
- Youth Amateur Sports: Programs across the state, including local recreation departments, receive grants to enhance facilities and equipment.
- Problem Gambling Programs: A portion of the revenue supports resources for those affected by gambling addiction.
UNC Pembroke Sees Major Impact
UNC Pembroke (UNCP) expects to receive nearly $2 million in sports betting revenue, helping the university recover from COVID-related financial deficits.
“The funding has been tremendous,” said UNCP Athletic Director Dick Christy. “We were at a major crossroads, and this gives us a sustainable model for growth.”
The school plans to use the funds for:
- Scholarships and student-athlete support
- Enhanced training and nutrition services
- Tutoring and academic resources
With the additional funding, UNCP’s basketball team advanced to the Division II Sweet Sixteen for the first time in school history.
Youth Sports Also Benefit
Beyond college athletics, youth sports programs are seeing a boost. The state allocated $1 million toward Youth Amateur Sports, supporting local programs like Raleigh’s Parks and Recreation Department.
Ken Hisler, assistant director of Raleigh’s Parks and Recreation Department, secured a $6,000 grant to buy equipment for youth leagues.
“The funding helps us expand programs without straining the city budget,” Hisler said. “It allows us to provide better training tools for coaches and players.”
Participation in Raleigh’s youth sports programs has grown by 15% over the past year, and officials expect demand to rise further.
Looking Ahead
As sports betting revenue continues to grow, more schools and communities hope to benefit from state funding. Applications for future grants will help expand youth sports programs and strengthen university athletic programs.
For those facing gambling-related challenges, the North Carolina Problem Gambling Helpline is available at 877-718-5543.
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