- North Carolina collected an estimated $15 million in sports betting taxes in September, up 24.7%, after raising its rate from 18% to 23%.
- Sportsbooks won $65.2 million, down 2.4%, on $718.2 million in wagers.
- Promo wagers fell 16% to $26.9 million and now make up just 3.7% of bets.
RALEIGH, N.C. – North Carolina’s higher sports betting tax brought in more money in September, even with sportsbooks winning less. The North Carolina State Lottery Commission’s September report shows the state collected an estimated $15 million, up from $12 million last September, while gross wagering revenue slipped 2.4% to $65.2 million.
The difference is the rate. North Carolina sports betting is now taxed at 23%, up from 18%. At the old rate, September’s revenue would have produced about $11.7 million, so the increase added about $3.3 million.
The state budget Gov. Josh Stein signed on July 7 applied the higher rate to revenue received from that date on. Through three months of the fiscal year, the state has collected $40.3 million in taxes, up 55.7%, while revenue is up 23.5% to $177.4 million.
Bettors placed $718.2 million in wagers in September, up 4.7% from last year. But legal sportsbooks held 9.1% of those bets compared to 9.7% last September, which left revenue just short of last year’s $66.8 million.
Fewer Promos
Sportsbooks also didn’t have to send as many promos to get those bets. Promo wagers fell 16% to $26.9 million, while paid wagers rose 5.7% to $691.3 million. More than two years after launch, sportsbooks have their customers, and sportsbook bonuses aren’t needed as much to get them betting.
| September | Paid Wagers | Promo Wagers | Promo Share |
|---|---|---|---|
| 2024 | $538.4 million | $37 million | 6.4% |
| 2025 | $654.1 million | $32 million | 4.7% |
| 2026 | $691.3 million | $26.9 million | 3.7% |
In March 2024, North Carolina’s first month of legal sports betting, promos accounted for $202.6 million, or 30.7% of wagers.
