The North Carolina State Lottery Commission has released its sports wagering revenue report for January. The report compiles the monthly revenue submitted by the state’s eight licensed interactive sports betting operators.
From January 1 to January 31, account holders in North Carolina wagered a total of $646,942,020 on sports events, including both paid and promotional wagers. Of those wagers, account holders won $568,494,173.
State law imposes an 18 percent tax on the gross wagering revenue generated by sports wagering activities. Gross wagering revenue is defined as the total amount received from sports wagers minus the amounts paid out as winnings, before any deductions for expenses, fees, or taxes.
In January, the gross wagering revenue amounted to $74,530,133. After applying the 18 percent tax rate, the estimated tax proceeds for the month are $13,415,424. This amount represents the funds collected by the N.C. Department of Revenue from sports wagering activities.
