North Carolina Sports Betting Reaches $6.6B, Delivers $1.9M to Charlotte Athletics

In its first year, North Carolina's sports betting brought in $128 million from taxes. UNC Charlotte got $1.9 million for its sports teams. Between March 2024 and February 2025, people bet $6.6 billion in the state.

"We have received some of the proceeds as proscribed and it's been a great opportunity to reinvest back into our student-athletes," said Mike Hill to the Charlotte Business Journal.

Each year, 13 UNC schools get $300,000 for their sports teams. These schools split 20% of the extra money. UNC Chapel Hill and NC State don't get this money.

The money from taxes beat what experts thought it would be. They guessed the state would get between $64.6 million and $100.6 million yearly. Instead, they got $128 million.

The state takes 18% of what's left after paying winners. Charlotte spends this cash on daily costs and food for student-athletes. They have 450 students playing 19 different sports and spend $40 million on sports each year.

"It's been incredibly helpful and we're so grateful to receive this," Hill said. "As an auxiliary unit that doesn't receive general funding for our budget, it helps us tremendously as we navigate these times with inflation and everything else."

Students pay fees that make up 65% of Charlotte's sports money. The school wants to make its football stadium bigger, adding fancy seats and boxes. They'll spend $70 million fixing it up.

Schools need more money now that players can earn from their names and faces. This marks a big shift: Before, NCAA rules said college athletes couldn't make money.

Betting started in 2024 after state leaders said yes in June 2023. The money helps schools pay rising costs and take care of their athletes.