North Carolina profits from March Madness sports gambling

Many people are spending a lot of money on sports betting during March Madness. However, betting is still illegal in South Carolina, while nearby North Carolina is making profits. North Carolina's sports betting has generated $21.6 million for its 13 college sports programs. The American Gaming Association predicts over $3.1 billion will be legally wagered during this year's NCAA basketball tournaments, which is a 12-percent increase from last year. Thirty-eight states and the District of Columbia are benefiting from this money by collecting taxes and fees. In contrast, South Carolina has tried several times to legalize sports gambling, but these attempts have not succeeded. Representative Chris Murphy is pushing a new bill to change this. Despite the ban, South Carolinians are finding ways to bet. Many are traveling to North Carolina to place their bets. Murphy noted that during the Super Bowl, 1.3 million betting attempts were blocked in South Carolina. This shows that residents are eager to gamble, even if it means driving to another state. North Carolina's sports betting program supports college athletics with funds collected from gambling. In the past year, North Carolina athletic departments received about $1.7 million each from gambling revenue. This year, that number may rise to over $2 million per school. Notably, major universities like Duke and North Carolina do not benefit from this funding, as they choose not to participate. Some South Carolina leaders are frustrated by the lost opportunity to collect similar funding. They recognize the potential benefits of sports gambling, including increased revenue to support educational and athletic programs. South Carolina's legislators may feel pressure to act as neighboring states thrive from this income. However, concerns exist regarding the impact of gambling on athletes and the need for protections. The NCAA has started educational programs to address the risks associated with gambling among student-athletes. As South Carolina considers its options, finding a balance between generating revenue and protecting individuals will be crucial.