On March 11, North Carolina officially legalized sports gambling, leading to an influx of betting activity among its residents. Between March 11 and March 31, almost $660 million in bets were placed, with both paid bets and promo wagers factored into the total. Out of these bets, North Carolinians won more than $590 million.
The North Carolina Lottery Commission, which is responsible for overseeing sports gambling in the state, has granted licenses to eight companies to accept bets online and through smartphone apps. These companies heavily advertised their services leading up to March 11 and throughout the NCAA basketball tournament.
The state’s General Assembly had passed a sports gambling law the previous year, but it was not officially implemented until March. The timing of this coincided with the start of the college basketball tournament, resulting in a significant increase in betting activity.
Recently, the Lottery Commission released its first monthly report on sports gambling in North Carolina, revealing that sports wagering companies made almost $66.5 million in revenue over the span of 20 days in March. The state will tax this revenue at a rate of 18%.
In addition to this report, the commission is also working on implementing other aspects of the sports wagering law. This includes provisions that would allow for physical sportsbooks in North Carolina. This suggests that the gambling industry in the state is likely to see continued growth and development in the near future.
Overall, it’s clear that since legalizing sports gambling on March 11th nearly $660 million has been placed in bets between march 11th and march 31st . Out of this total amount won more than $590 million by north carolinians .