Sports Betting Brings $21M Windfall to NC Universities, But Is It Enough?
In 2023, North Carolina joined the growing list of states to legalize sports betting, and public universities have emerged as unexpected beneficiaries. Since its launch, the tax revenue generated by this industry has delivered over $21 million to 13 universities in the UNC system. These funds have been a lifeline for smaller institutions, alleviating budget deficits and addressing long-standing issues. However, critics question whether this funding source is sustainable or if it poses risks to students and communities.
Financial Impact Across the UNC System
North Carolina public universities collectively received $21,597,004 from sports betting revenue between March and December 2023. The funding aims to stabilize athletic budgets, many of which have struggled to keep pace with rising expenses.
Each institution receives at least $1.66 million annually. Smaller universities like UNC Pembroke, Western Carolina, and Winston-Salem State say this funding has been transformative. UNC Pembroke Athletics Director Dick Christy noted the money has helped the department avoid a $1.7 million deficit. Western Carolina’s Alex Gary echoed similar sentiments, citing “inflationary pressures” that student fees and ticket sales alone couldn’t cover.
How the Money Is Being Spent
Appalachian State University
Appalachian State is investing its $3.3 million allocation into a $29 million indoor practice facility. The new building will include a 100-yard football field, a physical therapy clinic, and expanded athletic training spaces. The facility addresses logistical issues caused by the area’s limited flat land and the inadequacy of the current 50-yard indoor field. Future funds will likely support travel expenses for athletic teams, which are significant due to the university’s rural location.
UNC Asheville
UNC Asheville has prioritized mental health resources for student-athletes, salaries for compliance staff, and offsetting costs to keep student fees stable. At $906 per year, UNCA has the highest athletic fees in the UNC system, making this allocation critical for affordability. The funds were also instrumental in managing the aftermath of Tropical Storm Helene, which disrupted water and power infrastructure, forcing athletes to relocate to sister campuses temporarily.
N.C. A&T State University
Athletics Director Earl Hilton highlighted plans to allocate funds toward student health, including hiring additional trainers, strength coaches, and mental health professionals. The historically Black university’s athletic department operates with an annual budget of $15–$17 million, which makes these funds a crucial supplement.
UNC Pembroke
At UNC Pembroke, the funding has kept the athletics department afloat as the university sees more students opting for online courses, which are exempt from paying athletic fees. Christy explained that the money has helped stabilize the $5 million budget and sustain essential services like scholarships and recruitment efforts.
Western Carolina University
Gary emphasized that sports betting revenue has allowed WCU to retain coaching staff, avoid cutting scholarships, and address rising costs for travel, lodging, and equipment. Plans for future allocations include hiring more assistant coaches for volleyball, soccer, and softball, which currently operate below NCAA staffing standards.
Winston-Salem State University
Winston-Salem State is channeling its share into much-needed facility upgrades, including renovations to its basketball venue, tennis courts, and fueling stations. Athletics Director Etienne Thomas said these improvements will help the HBCU compete more effectively and recruit higher-caliber athletes. However, Thomas noted that additional funding would be required to make WSSU a true powerhouse in Division II.
Criticism and Concerns
Critics argue that relying on sports betting revenue creates risks. College students, a key demographic for sports betting platforms, are particularly vulnerable to gambling addiction. Advocacy groups urge more oversight on how these funds are spent, emphasizing the need for long-term sustainability rather than dependence on volatile revenue streams.
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Jack Beckett
Fueled by coffee and curiosity, Jack is your trusted guide to all things Ballantyne. Catch his latest musings, stories, and caffeine-fueled ramblings at strollingballantyne.com. ☕
