- According to GeoComply, there are more than 370,000 active online sports betting accounts in the state
- In the first 48-hours of activity, GeoComply identified more than 5.36 million geolocation checks in the state
- North Carolina online sports betting launch on Monday, March 11, at noon
Expectations for North Carolina online sports betting were sky high leading up to this week’s launch and early returns suggest they may be living up to projections.
According to GeoComply, a geolocation compliance company, more than 5.36 million geolocation checks occurred in North Carolina during the first 48 hours after the state’s March 11 online sports betting launch.
By comparison, GeoComply recorded just a little over 2 million geolocation checks from neighboring Virginia during the same time period. Virginia has been live with online sports betting since January 2021.
Thousands of Registered North Carolina Accounts
Since Monday’s launch, GeoComply identified nearly 370,000 active online sports betting accounts in the Tar Heel State during the state’s first two days of activity. The company recording just 134,000 active sports betting accounts in Virginia.
Early data has shown a bevy of activity in North Carolina, which should only increase as the state moves into the ACC men’s basketball tournament and next week’s NCAA March Madness tournaments.
“It’s early, but North Carolina is already delivering on lawmaker expectations when they legalized online sports betting last year. 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,” Lindsay Slader, GeoComply’s SVP of Compliance, said in a press release.
Eight operators are currently live and accepting bets. Here are the licensed sportsbooks that are currently live in the state:
As part of the application process, sportsbook operators had to partner with either a state sports franchise, arena, NASCAR track, or PGA Tour course.
In-State Colleges a Popular Bet
North Carolina sports bettors flocked to their sportsbook apps to place bets on in-state colleges to win the upcoming NCAA basketball championship.
According to a BetMGM spokesperson, nearly 48% of all bets placed on the March Madness tournament were placed on the UNC Tar Heels to win the championship. Interestingly, only 4.2% of bets in North Carolina were placed on Duke to win the tournament.
The first bet in North Carolina history on the BetMGM app was $100 to win $1,800 on UNC at +1800 to win the NCAA tournament.
A Caesars Sportsbook spokesperson reported during the first 20 minutes of the state’s launch a user placed a $500 bet on UNC to win the men’s tournament at +1600 odds.
North Carolina recently made headlines with the launch of online sports betting in the state, marking a significant milestone in the world of sports gambling. The move comes after years of debate and discussion surrounding the legalization of online betting, with North Carolina finally joining the ranks of states that have embraced this popular form of entertainment.
The launch of online sports betting in North Carolina is a major development for both sports fans and the state’s economy. With the ability to place bets on their favorite teams and events from the comfort of their own homes, residents now have more options than ever when it comes to enjoying sports betting. This convenience is expected to attract a large number of new bettors to the market, boosting revenue for both the state and the operators running the online platforms.
In addition to providing a new source of entertainment for sports fans, online sports betting is also expected to have a positive impact on the state’s economy. The industry has the potential to create jobs, generate tax revenue, and stimulate economic growth in North Carolina. This influx of revenue could help fund important programs and services in the state, benefiting residents across all communities.
The launch of online sports betting in North Carolina has not been without its challenges, however. Like many states that have legalized online gambling, North Carolina has had to navigate a complex regulatory landscape and address concerns about problem gambling and addiction. To mitigate these risks, the state has implemented strict regulations and safeguards to protect consumers and promote responsible gambling practices.
Overall, the launch of online sports betting in North Carolina represents a significant step forward for the state and its residents. With the potential to boost revenue, create jobs, and provide a new form of entertainment for sports fans, online sports betting has the power to make a lasting impact on North Carolina’s economy and culture. As the industry continues to grow and evolve, it will be interesting to see how online sports betting shapes the future of sports gambling in the state.
