North Carolina Sports Betting in August Grows by 30% YoY
Sports betting in the state grew significantly this August compared to last August, according to a new report from the North Carolina Lottery Commission.
ECU freshman Colin Burke started dabbling in sports betting as a senior in high school, but after losing more money than he gained, he says he knew it wasn’t worth it.
“It’s my money now, not my dad’s, so I’m not really trying to lose it on something that…could hit big, but reality is, most of the time it doesn’t,” Burke said.
A new sports betting revenue report shows others believe it still is worth it.
The new report from the state lottery commission shows sports bettors wagered more than $463 million in paid bets in August, nearly 30% more than the state bet on sports last August.
Though it’s a high number, some say it’s not a shock.
“It is actually not surprising because it follows suit with every other state that has legalized sports wagering,” Gambling Research and Policy Initiative Director Dr. Michelle L. Malkin said.
The report shows North Carolina has collected nearly $180 million in taxes from sports betting since its launch in March of last year. Dr. Malkin says it’s important to remember that, in gambling, the house always wins.
“Some people might be winning, a lot of times, but they’re not winning anything close to what the state is gonna be getting back in tax returns,” Malkin said.
For those who do gamble, Malkin suggests doing it in low-risk ways, like keeping a ledger of wins and losses, setting time limits, and taking in the game.
“You should still enjoy the game, watch the game, don’t have your head in your phone the whole time hoping that your next bet is gonna win,” Malkin said.
