One Year of Sports Betting in North Carolina Generated $6B in Handle

The State of North Carolina has had licensed regulated sports betting for one year now and numbers are in.

There are 8 licensed sportsbooks in North Carolina. Combined they generated $6B in handle and a take of $700M+.

North Carolina taxes sportsbooks at 18%, which is the 11th highest rate in the United States. The state reports that is collected $128M in revenue from those sportsbooks.

The state uses the funds for sports programs, athletics scholarships, gambling addiction help, and the general fund.

North Carolina bettors took home over $5B in bet winnings, which they must report on their taxes. However, losses cannot deduct losses from their taxes.