North Carolina’s sports betting segment has significantly exceeded financial projections, collecting over $ 62 million in tax revenue since its launch on March 13th.
Initially, local lawmakers expected the figure to reach $ 36.1 million by the end of 2025 (fiscal). Nevertheless, with total bets exceeding $ 2.5 billion by mid-year, it becomes clear that the sector is delivering far more than that.
Most Significant Results
The industry’s GGR was $ 275.1 million from March to June alone. The state collected $ 49.5 million in tax revenue, a far cry from the $ 8.5 million expected by the end of 2024 (fiscal).
The positive growth trend in the sphere is further supported by subsequent results. North Carolina’s operators recorded $ 13.6 million in additional betting revenue in July and August.
Transformation of the Wagering Market
Considering the record-breaking results of the local bookmaker development program, the regulator is preparing to officially allow the operation of retail outlets. The state’s Lottery Commission has already taken several steps to assist operators. For instance, it has launched a certification program for niche products and services.
After the official opening of the market, land-based bookmakers will have to undergo the appropriate audit and testing of stationary gaming equipment. Each establishment will have autonomy in determining the date of its opening. In comparison, the online vertical was deployed at a particular time, and all interested parties had to obtain licences within a specified period.
Overall, 8 locations for stationary facilities have already been identified in the state. Among them:
- the Sedgefield Country Club;
- the Charlotte Motor Speedway;
- the Bank of America Stadium, etc.
You can learn more about the situation in the key gambling markets and order the development of a gaming startup at the Casino Market studio.
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