NC budget raises sports-betting tax, adds prediction markets
New NC budget raises sports-betting taxes, redirects revenue to public universities, and creates a new tax on prediction markets.
NC lawmakers reached a budget deal over the weekend, with votes expected this week ahead of the July 1 fiscal year.
Budget talks have slowed at the General Assembly, but Berger and Hall say they still expect a deal by the end of the month.
NC is predicted to make over $76M in Super Bowl bets, despite only spending $1.5M in 2022, when sports betting was only legal in the Cherokee casinos. That’s a 4,966.67% increase in only 5 years.
NC sports betting brought in just over $4M in taxes in July 2025, the lowest monthly revenue since betting began in March 2024.
A $2M state grant is bringing the 2026 MLS All-Star Game to Charlotte’s Bank of America Stadium, home of the Panthers and Charlotte FC.
Three-in-four North Carolina likely voters believe that tariffs will make products more expensive, and only 10% believe tariffs are the best way to reshore manufacturing jobs.
NC would become the state with the 4th highest tax on sports betting, at 36%, under the Senate budget proposal.
Sports betting has had a tremendous impact in more ways than one in its first year in NC, as the one-year anniversary was marked on Tuesday.
Millions of dollars in tax revenue have been generated during the first year of legalized online sports betting.
UNC universities benefit from sports betting tax revenue.
North Carolina taxes online sports betting at a rate of 18 percent.