As March Madness gets underway, online sports betting is anticipated to be a resounding success in North Carolina. On Monday, March 11, mobile sports gambling became formally available in the state. That coincides with the NCAA basketball tournaments for both men and women.
According to GeoComply, the early days of online sports betting in the Tar Heel State are living up to the hype. In North Carolina, the geolocation business carried out almost 5.3 million geolocation checks in the first 48 hours of authorized mobile sports betting.
In contrast, slightly over 2 million geolocation checks were logged in Virginia's online sports betting market. Sports betting is legal in Virginia as of January 2021.
"It’s early, but North Carolina is already delivering on lawmaker expectations when they legalized sports betting last year,” said GeoComply SVP of Compliance Lindsay Slader. “The state’s well-structured approach to mobile sports betting safeguards consumers and opens up significant revenue streams. With March Madness around the corner, we are excited to see continued growth.”
One of the most bet on events in the United States is the NCAA tournament.
Another statistic reveals North Carolina's emergence as a rival in the online sports market of neighboring Virginia. In contrast to Virginia's 134K active sports betting accounts, it represents the almost 370K active online sports betting accounts created in the first two days.
Press in Full Court: SportsBooks
Along with Washington, D.C., North Carolina became the thirty-first state to allow online sports betting, and sportsbooks were prepared. As previously reported by Casino.org, on March 1st, eight sportsbook companies started accepting players.
The sportsbook owners each had to pay a $1 million license fee.
"Expect this to be the most-bet March Madness in BetMGM history,” said John Ewing, BetMGM’s PR manager.
According to BetMGM, during the first 24 hours of online sports betting in the Tar Heel State, the University of North Carolina was the most-bet team to win March Madness. One person wagered $100 for UNC to win the tournament, making it the first bet in the history of North Carolina.
Though the state's governor had other plans, basketball is the driving force behind North Carolina's sports betting initiative. Shortly after sports betting was legalized, Governor Roy Cooper (D) ceremoniously backed the Carolina Hurricanes to win the Stanley Cup.
Using the occasion, Cooper's office also unveiled a video showing the wager with the slogan "Bet Responsibly, North Carolina."
Who Is a North Carolina Resident?
All sportsbook operators in North Carolina are required by law to collaborate with an established Carolina sports club, venue, or Native American tribe.
The eight state operators, along with their associates, consist of:
- Bet365 with the Charlotte Hornets
- BetMGM with the Charlotte Motor Speedway
- Caesars with the Eastern Band of Cherokee Indians
- DraftKings with NASCAR
- ESPN BET with the Quail Hollow Club (PGA Tour)
- Fanatics Betting and Gaming with the Carolina Hurricanes
- FanDuel with the Carolina Panthers and PGA Tour
- Underdog with the Sedgefield Country Club (PGA Tour)
Operators in North Carolina are subject to an 18% tax, and state representatives indicate that the revenue raised will go toward supporting state colleges, youth sports programs, the North Carolina Department of Health and Human Services, and services for gambling addiction.
