North Carolina governor approves budget with sports betting tax rise
The state’s budget also introduces a 6 per cent tax on prediction market operators.
US.- North Carolina Governor Josh Stein has signed Senate Bill 257 into law, approving the state’s $34bn budget. The move raises the tax on online sports betting operators from 18 per cent to 23 per cent and introduces a 6 per cent tax on prediction market operators.
Last week, the House of Representatives approved the budget in an 88-21 vote and the Senate by 35-10. The Major Events, Games, and Attractions Fund will receive up to $30m annually, while the North Carolina State University and the University of North Carolina at Chapel Hill have been added as recipients of revenue proceeds.
It’s the first time the tax rate has been changed since online sports betting was launched in North Carolina in March 2024. A proposal last year to double the sports betting tax rate failed to advance.
