North Carolina hikes sports betting tax to 23%

North Carolina has increased the tax rate on sports betting operators from 18% to 23%, after Gov. Josh Stein signed it into the state's newly approved budget.

The higher rate applies to licensed sportsbooks taking wagers in the state, adding to a wider trend of US states revisiting sports betting tax rates as the market matures.

For bettors in North Carolina, the change is unlikely to alter the odds or promotions on offer overnight, but higher operator costs can eventually feed into how generous sportsbooks are with bonuses and boosted odds down the line.