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Analysis and online sports betting on mobile devices on mat

Source: Davizro / Getty

North Carolina’s recent launch of statewide sports wagering accessible via smartphones and desktops has experienced a robust initiation, according to a state lottery official speaking on Wednesday. The surge in activity is attributed in part to heightened betting interest in college basketball, particularly during the apex of the season.

During a meeting of the North Carolina State Lottery Commission, preliminary financial figures for the inaugural day and week of sports wagering were presented. As per last June’s sports wagering law, the commission is tasked with licensing operators and suppliers and establishing regulatory frameworks.

Per WCCB, eight interactive sports wagering operators commenced operations at noon on March 11, just before the start of the men’s Atlantic Coast Conference basketball tournament. The week concluded shortly after the release of brackets for both the men’s and women’s NCAA tournaments.

On March 11 alone, wagers surpassed $23.9 million, with nearly $12.4 million attributed to “promotional wagers” incentivizing new customers. Bettors received $12.2 million in winnings within the initial 12 hours, according to data shared during the commission meeting.

Throughout the first week, wagering volume exceeded $198.1 million, with approximately $141.6 million paid out in winnings. The “gross wagering revenue,” upon which the state will levy an 18% tax, reached approximately $42.7 million.

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