Online Sports Betting Comes to North Carolina for March Madness
LISTEN TO THIS ARTICLE:North Carolinian sports fans will be pleased to learn that legal online sports betting in the state will be rolled out in time for March Madness, the NCAA Division I men’s basketball tournament, which is the country’s most watched and bet on event each year.
Seven sportsbooks will be taking bets including big names such as BetMGM, FanDuel, DraftKings, and bet365, as well as the smaller operators ESPN Bet, Fanatics Sportsbook, and Underdog Sports Wagering.
The 30th State to Legalize Online Betting
The above seven have all been approved by the regulator and are already able to accept registrations. Interestingly, Underdog Sports Wagering had to drop its free pick’em games in order to receive its license. However, there are more licenses to be awarded and a number of operators are reportedly considering applying to enter the North Carolina market.
Online sports betting will go live in North Carolina in two weeks and when it does, it will be the thirtieth state to allow the activity.
North Carolina expects to raise $100 million in tax revenue in the first five years of legal sports betting. The state is home to a number of professional sports teams, such as the Carolina Panthers, the Carolina Hurricanes, and the Charlotte Hornets, and it has 10 million residents.
Huge March Madness Betting Expected
The state will be represented by the UNC Tar Heels in March Madness and as college bets will be allowed, it should attract a large number of bets.
Last year saw a total of $15.5 billion bet by 68 million people across the US and these numbers are expected to be surpassed this year. All eyes will be on the figures released by the American Gaming Association, but with more states having legalized sports betting, it is fair to expect more wagers than ever before.
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