According to Brian Murphy at WRAL, the budget proposed by the North Carolina Senate last night for the next two years could significantly increase revenue for NC State’s Athletic Department.
In the current North Carolina state budget, the athletic departments at NC State and UNC don’t receive any of the tax revenue from sports betting—while 13 other UNC System schools do. In the newly proposed budget, that would change in a big way.
If revenue were to stay flat, the Wolfpack and Tar Heels’ athletic departments would each receive an infusion of $11.5 million annually. But if the new budget passes, that number is expected to grow, as part of the proposal includes doubling the sports betting tax rate from 18% to 36%.