North Carolina Gambling News - July 2024
Get the latest gambling news from the great state of North Carolina for the month of July 2024.
NC Betting Handle Drops to $398.2 Million in June
(July 10, 2024) - North Carolina's June betting handle of $398.2 million was the lowest since regulated sports betting launched in the state in March. Of course, June is also among the slowest sports months in the U.S.
Why It Matters:
- The online sports betting handle for June was $381.8 million, down from $494.6 million in May and $456.7 million in March.
- Operators in North Carolina are subject to an 18% tax on gross wagering revenue. The state collected over $49.5 million in taxes for the fiscal year ending June 30.
- Since the legalization of mobile sports betting, North Carolinians have wagered $1.9 billion, generating $275.1 million in gross wagering revenue, with $1.94 billion paid out to players
UNC Tar Heels and NC State Wolfpack Football 2024
Neither team is expected to excel in 2024 as both are listed with very long 200-1 odds of winning the NCAAF Championship in 2024-25.
North Carolina Current Sports Betting Market
The legal age to bet online and in person is 21. Opening an online betting account can be done from one's own home via a licensed website's registration page.
The sites regulated by the state are: bet365, BetMGM, Caesars, DraftKings, ESPN Bet, FanDuel, Underdog, and Fanatics.
Offshore sportsbooks and local bookies using sportsbook software still thrive in the state due to some restrictions.
North Carolina Gambling Tax Rules
Currently, winnings are subject to a 6% tax.
What You Can't Bet in North Carolina as of June 2024
Entertainment betting and politics. North Carolinians can legally bet on the NFL Draft with some stipulations: Round-specific wagers must be placed before the round begins and pick-specific wagers must be placed before the previous two selections are announced.
Can I Play on Internet Casinos in North Carolina?
North Carolina does not currently regulate online casino sites. Many offshore sportsbooks offer online casinos to those in the state as do pay per head sites that offer online casinos as part of their package.
Can I Play Online Poker in North Carolina?
Poker is only available via internationally licensed websites like ACR Poker.
Pros and Cons of Gambling in North Carolina
The limitations are few at the moment but North Carolina's sports betting landscape is still likely to be adjusted over time.
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