North Carolina Sports Betting Off To Roaring Start

The initial sports betting figures coming from North Carolina are exceptional, as expected by everyone, including the top sports betting apps. The Tar Heel State market is seen as a strong and valuable addition to the legal sports betting landscape in America.

Vancouver-based GeoComply, a geolocation company monitoring transactions in the expanding U.S. legal sports betting industry, shared data on North Carolina sports betting apps’ launch in the first 48 hours. The company’s post on X revealed impressive figures.

The initial achievements can be attributed to the enthusiastic North Carolina sports betting fanbase and a regulatory body that has learned from the successes and failures of nearly 40 other legal sports betting jurisdictions in the United States.

In a press release on Wednesday, Lindsay Slader, Senior Vice President of Compliance at GeoComply, praised North Carolina for meeting lawmaker expectations with the legalization of online sports betting. The state’s careful planning for mobile sports betting ensures consumer protection and creates new revenue opportunities. As March Madness approaches, Slader expressed excitement for the continued growth of the industry in North Carolina.

The findings

In the first 48 hours following the launch of North Carolina’s legal sports betting market, GeoComply detected over 5.3 million geolocation checks. This industry encompasses:

• bet365 partnered with the Charlotte Hornets
• BetMGM partnered with Charlotte Motor Speedway
• DraftKings partnered with NASCAR
• Fanatics Betting and Gaming partnered with the Carolina Hurricanes
• FanDuel partnered with the PGA Tour and the Carolina Panthers
• PENN Sports Interactive (ESPN BET) partnered with Quail Hollow Club 
• Underdog Underscoreg partnered with McConnell Golf

Caesars underscoreg is now operating in the state under a valid operator license.

Sports enthusiasts and individuals interested in participating in America’s latest legal sports betting industry were clearly excited to make the most of the generous promotions offered by North Carolina sportsbooks.

In North Carolina, there were 370,000 active sports betting accounts that resulted in 3.5 million geolocation checks. This indicates that bettors were not only placing bets, but also registering for multiple North Carolina sports betting sites.

By comparison

In its first 48 hours of operation, Virginia, a state comparable in size to North Carolina, experienced approximately half the amount of sports betting activity. The number of accounts registered was slightly less than one-third of what North Carolina achieved from Monday to Wednesday this week.

In the first 48 hours of operation, Virginia recorded approximately two million geolocation checks and saw 134,000 users sign up for a legal sports betting account.

Looking ahead

March Madness is anticipated to attract a large audience in North Carolina, a state known for its love of basketball. With a population of 10.7 million and professional sports teams like the Carolina Panthers, Charlotte Hornets, and Carolina Hurricanes, North Carolina is poised to become one of the top ten most successful states for legal sports betting in the US.

Initial projections suggested that the new platform would generate between $8 million and $24 million in tax revenue for state and local governments in its first year. With the strong early interest in the platform, it is possible that the higher end of the projections could provide significant support for programs in need.

North Carolina serves as a prime example of a successful implementation of a legal sports betting platform, showcasing the potential benefits for states considering similar initiatives. This should serve as inspiration for South Carolina and Georgia, urging them to follow suit and legalize and launch their own legal sports wagering platforms.