North Carolina sports betting revenue helps fund youth sports projects
North Carolina is approaching its first full year of legal mobile sports betting, and youth sports are feeling the financial benefits.
Why it matters: While the long-term ramifications of legal mobile sports betting in North Carolina remain unclear, the immediate results reflect what experts expected — additional revenue streams, including to support youth sports.
Driving the news: North Carolina Amateur Sports, a Durham-based nonprofit, is awarding grants of up to $20,000 per county to local government agencies and nonprofits to help purchase youth sports equipment or upgrade public facilities used by youth sports.
The deadline to apply is April 1.
$1 million annually is allocated to NCAS from sports betting revenue.
Grants of up to $10,000 per county will be available annually after fiscal year 2024-25.
By the numbers: The state and NCAS awarded $722,825.61 during their November grant cycle. Mecklenburg County was awarded $20,000 total for two projects:
$15,000 for new soccer goals for Area B at the Sportsplex at Matthews. The goals are in place, a Mecklenburg County spokesperson told Axios.
$5,000 for volleyball equipment, Pineville Parks & Recreation director Matthew Jakubowski, confirmed to Axios. The grant helped Pineville Parks & Recreation purchase nets, a stand for the referee, and poles.
"We asked for funding for new athletic equipment that was not in our budget," Jakubowski told Axios. "We just started a new youth volleyball league for girls, and we did not have any equipment to provide this program."
What they're saying: "These grants have provided athletics equipment, fields and facilities, and leagues to get our children playing and competing," N.C. Rep. Zack Hawkins said in a recent statement about the funds legal mobile sports betting has generated in North Carolina.
Between the lines: More than half the state's counties still have $20,000 available, NCAS data indicates.
Counties with a healthy youth sports environment are more likely to pursue these grants, UNC Charlotte economics professor Craig Depken told Axios.
"Grants that are small tend to have an impact that's measurable," Depken said. However, he added, they'll need another year of data to assess the impact of these grants. He's looking to see if these grants are affecting or drawing youth sporting events to areas that receive grants.
Context: Sportsbook operators are taxed at 18%, which creates revenue for the state. Tax proceeds are allocated to a number of entities, including:
$2 million annually to the North Carolina Department of Health and Human Services for gambling addiction education and treatment.
13 state college athletic departments, including the Charlotte 49ers, also receive funds. See the full breakdown of where state revenue goes here.
The bottom line: "The legalization of sports betting in North Carolina has achieved what people expected, which is a significant new revenue stream that can support a whole range of important initiatives, and youth sports is one of them," Elon University sport management professor Bill Squadron told Axios.
Zoom out: While sports betting does provide additional state revenue, it comes with the concern of gambling addiction. Technology makes gambling more accessible and potentially more problematic, as you can bet on something at 3am without needing to go anywhere.
But as with many other issues for those studying North Carolina's first chapter in legal mobile sports betting, they need more data before they can truly analyze its impact.
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