Sports bettors in North Carolina wagered less money in July than any month since legalized online sports betting launched in the state in mid-March.

More than $340.3 million was bet in July, down from $398.2 million in June. The sports calendar in the summer months is slower than at other periods of the year. The Paris Olympics began on July 26.

In Virginia, for example, June and July saw the lowest betting totals in 2023 before setting records during football season.

The eight operators paid out $295.3 million in winnings, leaving gross wagering revenue of $42.2 million, as calculated by the North Carolina Lottery Commission. The state collects an 18% tax on gross wagering revenue, so it is estimated to collect $7.6 million for the month.

The operators had larger gross wagering revenue in July than June, when the state collected $7.2 million in taxes.

North Carolina collected more than $50 million in taxes and fees for the fiscal year that ended June 30. That figure does not include June’s taxes because those were not due until mid-July. The athletic departments at 13 UNC System schools, not including NC State and North Carolina, received more than $800,000 each from the proceeds.

Source: wral.com