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The North Carolina State Lottery Commission on Monday released its sports wagering revenue report for July.
The report compiles the sports wagering revenue in July as submitted by the eight licensed interactive sports wagering operators.
Between 1-31 July, account holders in North Carolina wagered $340,375,353 on sports events, including paid wagering revenue and promotional wagering revenue.
From those wagers, account holders won $295,386,205.
July is traditionally among the slowest months for sports betting.
There are eight licensed sportsbook apps operating from the state, all of which launched back in March. The legal wagering age is 21 with remote wagering permitted.
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State law levies an 18 percent tax on the gross wagering revenue generated by sports wagering activity. Gross wagering revenue is a total of amounts received from sports wagers less the amounts paid as winnings before any deductions for expenses, fees, or taxes.
In July, the gross wagering revenue was $42,226,040. After the 18 percent tax rate is applied, the estimated tax proceeds for the month would be $7,600,687.
Retail sports betting takes place at three active, fully realized retail sportsbooks in North Carolina, one of which is near by the state's largest city of Charlotte. Two are operated by the Eastern Band of Cherokee Indians — Harrah’s Cherokee Casino Resort and Harrah’s Cherokee Valley River Casino & Hotel. Additionally, the Catawba Nation tribe operates a sportsbook in the temporary version of its forthcoming Two Kings Casino.
The N.C. Department of Revenue is responsible for collecting the tax proceeds from sports wagering revenue.
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