Will the World Cup stoke betting in North Carolina?

Spending on sports betting in North Carolina rose by 2.6% year over year during May, following a drop after March Madness.

The state Lottery Commission reported Thursday that total wagering revenue was $578.1 million during May, compared with $612.5 million in April and $726.2 million in March.

Legalized betting began in the state on March 11, 2024. The monthly record is just under $814 million in November 2025

The eight sportsbooks operating in N.C. provided a combined $16.9 million in promotional funds in May, compared with $14.4 million in April and $14.4 million in May 2025.

The commission tracks betting based on the state fiscal year, which runs from July 1 to June 30. It discloses the monthly report without comment.

Jim Tomlin, an analyst at BetCarolina.com, said that even with a smaller wagering total, the base of active bettors is growing and being more engaged than it was a year ago.

"The volume is stabilizing, but the fact that we're still clearing the half-billion mark in a non-peak month proves that North Carolina has quickly become one of the heavy hitters in the national landscape."

Thomas Leary, editor at BetCarolina.com, said that "June, July and August are notoriously quiet for sportsbooks."

"If there's a wildcard to insulate us from the typical summer slump, it's June's massive sports calendar."

Betting in N.C. likely benefitted from the NHL's Carolina Hurricanes reaching the Stanley Cup finals.

Other analysts say they are curious to see if FIFA men's World Cup being played in the United States, Canada and Mexico move the wagering needle in North Carolina.

The German national team's base is in Winston-Salem and Wake Forest, Norway in Greensboro and UNC Greensboro, and Scotland in Charlotte.

Leary also mentioned North Carolina is competing in the College World Series.

"Between local hockey faithful, Tar Heel baseball fans and the global soccer surge, June has a real chance to cushion the blow of the usual summer slowdown," Leary said.

Bettors won $510.2 million in May, down from $544.5 million in April, but up from $492.9 million a year ago.

The monthly record is $729 million during October 2025.

Gross wagering revenue to the sportsbooks was $64.3 million, down from $64.6 million in April and down from $6.52 million a year ago. The monthly record is $92.9 million in November 2025.

Gross wagering revenue is defined as the amount operators receive from sports wagers, minus the amounts paid out as winnings, after deducting expenses, fees and taxes.

Since the start of legalized mobile sports wagering, state residents have won $14.14 billion through May 31.

Meanwhile, bettors have spent $15.7 billion on wagers, also through May 31.

The estimated tax proceeds for May were $11.58 million, down from $11.6 million in April. The monthly record is $16.7 million in November 2025.

"What's really fascinating about May's figures is how resilient the state's tax cut was," Leary said.

"Even though overall betting dropped by over $34 million, North Carolina still cleared roughly $11.6 million in estimated tax proceeds for May. It tells us that while locals were placing fewer total bets, the operators weren't giving out quite as many promotional deals, keeping the state's revenue share incredibly steady."

Supporters of legal betting, particularly bipartisan legislative sponsors, envisioned the revenue generated would serve as a modest supplement to the state's General Fund.

Lawmakers said the money could help offset recent reductions in corporate and individual income taxes.

Legislative analysis of House Bill 347, which authorized sports wagering, projected about $40 million in annual tax revenue in 2024 and more than $100 million annually by 2029.

However, the total to date has been about $270 million, according to the N.C. Revenue Department. That includes $116.6 million for fiscal 2024-25 and $135.1 million so far in fiscal 2025-26.

More than two years of legal betting in North Carolina has proven to be a revenue winner for most parties, in particular the UNC System athletics departments outside the Tar Heels and Wolfpack.

As of Jan. 31, $56.22 million in sports betting tax revenue has gone to 13 UNC System universities that includes Appalachian State, N.C. A&T State, UNC Greensboro and Winston-Salem State.

Each athletics department's allocation is $4.33 million as of Jan. 31, according to the N.C. Revenue Department.

Those funds are being credited with assisting in resolving athletic department revenue shortfalls, sustain services and finance infrastructure upgrades.

Todd McFall, a sports economist at Wake Forest University, said that after two years of legal mobile sports wagering in N.C., "the pros aren't as substantial compared to what's possible because tax rates on winnings and each bet could be higher."

The current tax rate on the eight sportsbooks is 18% on gross wagering revenue.

The 2025-26 state Senate budget bill would fund the increase by doubling the tax rate to 36%. The sportsbooks have been vocal in their opposition to the increase.

The way North Carolinians have embraced legalized betting has led N.C. Senate and House Republican budget writers to raise projected potential revenue streams for UNC System athletic departments.

The bills also would make UNC and N.C. State eligible for the first time for a limited portion of excess sports wagering tax revenue, which could reach $24.5 million in fiscal 2025-26 and $31.5 million in fiscal 2026-27 for each athletic department.

The House version said the excess sports wagering revenue is designed "to support collegiate athletics departments, and not to supplant general funding to public universities."

It does not specify whether excess revenue can be used to pay for high school or college transfer portal players, or can be used to free up current revenue streams for that purpose.

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