How NC plans to spend the millions generated from mobile sports betting

CHARLOTTTE, N.C. (QUEEN CITY NEWS) – A little more than a minute into Monday’s matchup between the Hornets and Detroit Pistons, Charlotte’s Miles Bridges scored from the paint. As a result, thousands of gamblers earned up to $50.

It was part of a promotion from DraftKings. The betting platform doubled users’ bets if the Hornets scored just 1 point during the game.

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It was far from the only launch-day deal for North Carolinians. Several newly licensed online sportsbooks offered new customers the chance to pad their accounts:

• BetMGM – bet $5 get $150

• Bet365 – bet $5 get $200

• Caesars Sportsbook – bet $10 get $250

• DraftKings – bet $5 get $250

• ESPN BET – any bet get $200

• FanDuel – bet $5 get $250

The payouts are offered in bonus bets or gambling credits, and users cannot cash out immediately. Gambling analysts say this is a common way to entice newcomers.

“It’s as easy a bet as you’re ever going to have,” said Steve Bittenbinder, a contributor for Bet Carolina.

The total amount the state will bring in through gambling-related taxes is still unclear. As state representatives began debating the bill, the estimate was around $65 million within the first year. Bittenbinder said that is a low projection, likely used with outdated information on sports betting trends. Bettors used to focus primarily on betting money lines, but now they have the option to place more complex bets like parlays.

“They’re lucrative bets. If you all of them hit, you can get a really nice payoff with that,” Bittenbinder said. “The thing is, it’s a very hard bet to hit. It’s almost kind of a lottery ticket, in that you have to get everything right on that same-game parlay in order to get the payout. FanDuel and DraftKings have seen their profits go up immensely because of this; they’ve seen their revenues go up because of this.”

Bet Carolina projects the state’s take could be up to $130 million in 2024, if all goes well.

“This time four years ago, we thought Indiana was going to be a huge state the first year,” Bittenbinder said. “It ended up being that way, but everything shut down for three or four months, and they didn’t get that payoff they thought they were going to get right away.”

State law says that $1 million of betting funds per year will go to the Department of Health and Human Services for gambling addiction education and treatment programs.

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Another million dollars will annually expand opportunities for youth sports. North Carolina Amateur Sports will distribute the money through grants to local governments or nonprofit organizations. Funds can be used for equipment or facility upgrades. No single county can receive more than one percent of the total funding available each year.

State officials will appropriate $300,000 each year to athletic departments at the following UNC system schools:

• Appalachian State University

• East Carolina University

• Elizabeth State University

• N.C. A&T State University

• N.C. Central University

• UNC Asheville

• UNC Charlotte

• UNC Greensboro

• UNC Pembroke

• UNC Wilmington

• Western Carolina University

• Winston-Salem State University

If the revenue from mobile sports betting is not enough to cover each of the schools’ portions, their taxes will each get docked the same amount.

Members of the state lottery commission will be reimbursed for their administrative expenses they incurred while setting up the parameters of mobile sports betting.

The remaining balance is to be split between the aforementioned universities, the state’s General Fund and its Events, Games and Attractions Fund.

Gambling addiction help is available at morethanagame.nc.gov or 877-718-5543.

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