North Carolina players won a total of $659.3 million (£528.7 million/€617.8 million) online in March, the first month that sports betting began legally in the Tar Heel state. I bet on sports.
North Carolina opened a regulated sports betting market on March 11th. The numbers released by the North Carolina Lottery Commission cover the period from the release date to the end of March.
Of the total bets made in the first few weeks, consumers spent $456.7 million betting their own money. In addition, he was awarded $202.6 million in promotional bets provided by the operating company.
Players won a total of $590.8 million in sports bets during this period, but $2.1 million worth of bets were voided or canceled. So, his total gambling revenue in the first weeks after legalization amounted to $66.5 million.
However, the European Commission did not publish data on taxes. State law imposes an 18% tax on the gross gaming revenue of each interactive sports betting operator in North Carolina.
The first figures of the month were released after the commission published data for the entire first week of betting in early April. In Week 1, more than $198 million was bet online on sports in the state.
A further breakdown reveals that more than $24 million was wagered on the market's first day.
Who is doing well in North Carolina?
Currently, eight operators hold interactive wagering licenses and offer online wagering in North Carolina. Established brands FanDuel, Caesars Entertainment, DraftKings, Fanatics, Bet365, BetMGM, ESPN Bet, and Underdog are all active.
To offer sports betting within the state, operators must partner with a sports team, league, or venue within North Carolina. All current licensees have such agreements.
These include DraftKings, which is affiliated with Nascar for the stock car racing series. Meanwhile, BetMGM is working with Charlotte Motor Speedway, ESPN Bet Golf's PGA Tour and Wells Fargo His Championship.
Other partnerships include Fanatics Betting and Gaming and the NHL's Carolina Hurricanes. In addition, Underdog expanded its position as a paid fantasy sports operator in the state through its partnership with McConnell Golf.
Early and proactive response from operators
In the first few weeks of operation, we received a positive response from licensees in North Carolina.
Kevin Hennessy, vice president of communications for Fanatics Sportsbook, said the launch process was “very smooth.”
A DraftKings spokesperson echoed those comments, saying the company has seen “excellent engagement” in the state.