North Carolina public universities have received $17.3 million in tax dollars from sports betting taxes, representing 20% of the $98.6 million in total tax revenue collected from the new tax between March and Nov of 2024.
According to state law, of the tax revenue collected, 20% is required to be distributed evenly among 13 state universities to support the collegiate athletic departments. Between April and Sept of 2024, $1.32 million was transferred to each of the 13 UNC system institutions eligible for funding. The universities use these tax dollars to fund field upgrades, indoor practice complexes, sports medicine facilities, and beyond.
“Sports wagering companies are proud to play by the rules and pay a reasonable tax to responsibly serve North Carolina customers,” said Pat Ryan, spokesman for the Sports Betting Alliance (SBA), in a press release.
