Home NewsSports Betting North Carolina Sports Betting Spending Hits $659.3M in First Month

North Carolina Sports Betting Spending Hits $659.3M in First Month

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In North Carolina, players wagered $659.3m online (PS528.7m/EUR617.8m), the first legal month for sports betting in North Carolina.

North Carolina launched its sports betting market on the 11th of March. The North Carolina State Lottery Commission released figures for the time period between launch and the end of march.

Consumers spent $456,7m on their own bets. Another $202.6m is attributed to the promotional bets that operators offered.

In this time period, players won $590.8m in sports betting. However $2.1m of wagers were voided. Gross wagering revenues for the first weeks of legal gambling totaled $66.5 million.

However, the Commission did not provide any tax data. North Carolina state law imposes a tax of 18% on the gross betting revenue generated by each operator.

The Commission released the data from the first week of betting in early April. In the first week, online sports betting in New Jersey totaled more than $98.8 million.

The breakdown shows that over $24.0m in wagers were placed on the first trading day.

What is the active population in North Carolina?

Eight operators currently hold Interactive Wagering Licences in North Carolina and offer online betting. FanDuel is active, as are Caesars Entertainment and DraftKings.

Operators must form a partnership with a North Carolina sports team, sports league, or sports venue to offer sports betting. This agreement is in place for all current licensees.

DraftKings is one of them, as it has a partnership with the stock car racing Nascar. BetMGM is partnered with Charlotte Motor Speedway, while ESPN Bet works with golf’s PGA Tour.

Fanatics Betting and Gaming and NHL Carolina Hurricanes are also partners. Underdog also expanded its role as a fantasy sports paid operator in the State through a partnership between McConnell Golf and Underdog.

Early response positive from operators

North Carolina licensees have responded positively to the program during its first weeks.

Kevin Hennessey said that the Fanatics Sportsbook launch was “very smooth”.

DraftKings’ spokesperson confirmed these remarks, saying that the company had “great engagement” with state residents.

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