North Carolina tax revenue from sports gambling hits new low in August

Bettors in North Carolina wagered more than $370 million on sports through eight online operators, a slight uptick from betting totals in July.

But the licensed operators set a new low in gross wagering revenue and, as a result, taxes collected by North Carolina are at their lowest since legal sports gambling began in the state in the middle of March.

The operators paid out more than $333 million in wins to gamblers. The gross wagering revenue, as calculated by the state, was $33.7 million. North Carolina collects an 18% tax on gross wagering revenue and collected $6 million in August.

Total wagering revenue in July was $340 million, but the state collected more than $7.6 million in taxes on gross wagering revenue in July. The $370 million bet in August is the second-lowest total since sports betting began.

The totals were expected to fall during the summer months — between the end of college basketball and the beginning of football season — when the sporting calendar contains fewer popular betting sports.

The Summer Olympics in Paris were held mostly in August, but the North Carolina State Lottery Comission does not breakdown wagering totals by sport or by operator. With the start of football season, the amount wagered is expected to increase significantly in the fall.

The previous low for gross wagering revenue was $40.3 million in June. North Carolina received $7.2 million in taxes in June.

The state collected more than $50 million in taxes and fees from sports gambling in the fiscal year that ended June 30.

Total wagering revenue (paid and promo bets)

August: $370,484,774

July: $340,375,353

June: $398,251,464

May: $525,548,571

April: $648,934,226

March: $659,308,541

Gross wagering revenue (taxes collected)

August: $33,751,015 ($6.1 million)

July: $42,226,040 ($7.6 million)

June: $40,302,263 ($7.2 million)

May: $63,080,347 ($11.3 million)

April: $105,251,672 ($18.9 million)

March: $66,496,213 ($11.9 million)