Gambling revenues in the state fell again in May, according to the N.C. State Lottery Commission.
The sports wagering revenue report for May compiles the revenue in the month as submitted by licensed interactive sports betting operators.
Between May 1 and May 31, account holders in North Carolina wagered $578,070,325 on sporting events, including paid and promotional wagers. From those wagers, account holders won $510,244,709. In April, gamblers won $544,486,003 on $612,495,383 in wagers.
In May, the gross wagering revenue for the state’s licensed interactive sports wagering operators totaled $64,318,908. After the 18 percent tax rate is applied, the estimated tax proceeds for the month would be $11,577,403. This is the projected amount that the N.C. Department of Revenue will collect from sports wagering operators.
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.
