North Carolina: Sports betting wagers reach nearly $200m during first week

March 28, 2024
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The state opened its regulated market March 11.

The North Carolina State Lottery Commission has released its preliminary results for the first day and first week of sports betting. The commission presented its results during a recent meeting, according to a Fox News report.

Legalized sports wagering debuted in the state March 11. North Carolina is the 38th state to welcome legalized sports wagering since the US Supreme Court repealed PASPA in 2018.

On the night of the market’s opening, $23.9m had been wagered, with nearly half of the total coming from promotional bets. Eight authorized operators began taking wagers at noon.

According to the commission’s report, more than $198.1m in bets were placed by the end of the first week. Players walked away with more than $141.6m in winnings during the week.

Gross gaming revenue (GGR) during the week reached almost $42.7m. The state will collect 18% in taxes under the terms of the current laws on the books.

Under the current regulations, the Lottery Commission is allowed to award up to 12 interactive sports wagering operator licenses statewide once the market is established. Players would then have access to online and mobile betting, as well as in-person wagering.

The state will initially allow players to place wagers on their mobile devices and will later accept in-person betting on a case-by-case basis.

As of now, approved licensees include FanDuel Sportsbook, BetMGM, DraftKings, Fanatic Sportsbook, bet365, ESPN Bet, Underdog Sports Wagering and Tribal Casino Gaming Enterprise, which is an enterprise of the Eastern Band of Cherokee Indians.

The Commission has also issued a supplier license to Sportradar’s US betting subsidiary, Sportradar Solutions. The company’s license will remain valid for the next five years.

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