North Carolina’s mobile sports betting revenue for June fell to its lowest level since legalized betting launched in mid-March.

The dip was expected as the sporting calendar is without meaningful college or NFL football and without most basketball in June.

Still, sports bettors wagered nearly $400 million in paid wagers and promotional bets in June, pushing the state’s total to more than $2.2 billion in total bets. Bettors have bet more than $1.90 billion in paid wagers and more than $1.94 billion has been paid out in winnings.

The eight licensed operators collected more than $40 million in June in gross gaming revenue, as calculated by the North Carolina State Lottery Commission. That pushed the total of gross gaming revenue to more than $275 million. Operators pay an 18% tax on that figure.

The state has collected more than $49.5 million in taxes in the fiscal year that ended June 30, far above lawmakers’ projected revenue for sports betting.

The state’s new fiscal year began July 1.

State lawmakers proposed changes to how that tax revenue is distributed, but did not agree to those proposals during this year’s legislative session. Nor did lawmakers address prop bets on college sports or the state’s tax code that does not allow losses to be deducted from sports betting winnings for tax purposes.

Source: wral.com