Athletic departments at 13 public colleges in North Carolina will see some tax revenue when the state opens for legal, online sports betting Monday, according to Nell Gluckman of the CHRONICLE OF HIGHER EDUCATION. All 13 of those athletic departments are at "HBCUs or public regionals," but that does not include the Univ. of North Carolina or N.C. State as both generate over $100M a year in revenue and are excluded from the provision. The state “allocated $300,000 for each of the 13 colleges.” After “some other sums are doled out,” including to a state agency to run addiction-treatment programs, 20% of the remaining tax revenue “will be divided equally among the colleges.” UNC Asheville -- whose budget of roughly $9M is “one of the smallest of all Division I colleges” -- is “one of the institutions that will receive the funds.” UNC-Asheville AD Janet Cone said that having another budget line “will diminish the need to increase student fees and will contribute to mental-health programs, sports medicine, and nutrition for athletes.” The North Carolina legislature’s Fiscal Research Division estimated that in the first fiscal year after the law goes into effect, the state would see $64.6M in revenue. Four years out, the division estimated revenue would reach $100.6M. That would mean each athletic department would get $1.2M in the first year and $1.7M four years later (CHRONICLE OF HIGHER EDUCATION, 3/5).
