North Carolina’s Sports Betting in Time for March Madness

Backed by the North Carolina government and the North Carolina Lottery Commission, which oversees the industry and laid the groundwork for the launch of sports gambling as early as 2023, sports gambling will arrive in The Tarheel State in time for March Madness, the colloquial name for NCAA Division I men’s basketball tournament, America’s single-most watched and bet on the event on the calendar.

Seven Sportsbooks to Vie for Market Share Starting Today

A total of seven sportsbooks will accept wagers on the outcome of events, among which are such national heavyweights as BetMGM, FanDuel, DraftKings, bet365, and disruptors such as ESPN Bet, Fanatics Sportsbook, and Underdog Sports Wagering. Notably, Underdog Sports Wagering decided to forgo its free pick’em games to bolster its chances of obtaining a license from the regulator, which it did.

All participants have been cleared by the regulator and have a right to go ahead and already accept registrations, as they prepare to build towards the official launch date.

Yet, the field – contested as it may seem to the unwitting spectator – is not nearly full. More licenses could be arriving in the future, with other potential entrants weighing the pros and cons of entering North Carolina and squaring up against some of the most influential companies in the sector.

When the activity launches in two weeks, North Carolina will officially become the 30^th state in the country where sports gambling is available in mobile betting form.

March Madness Prepares for Explosive Start in NC Sportsbooks

The state expects to raise $100 million from tax revenue within five years, with North Carolina home to 10 million people and professional sports franchises such as the Carolina Panthers, the Charlotte Hornets, and the Carolina Hurricanes.

The UNC Tar Heels are also representing the state in March Madness, and with college bets allowed the launch of sports betting in the state should come to a big influx of flutters. Sports fans may even bet on Olympic sports.

The total amount bet on March Madness last year was $15.5 billion with 68 million adults participating. The event is on track to improve on this record in 2024. The American Gaming Association, an influential homegrown body that tracks industry performance, is yet to give an updated outlook of what to expect this college basketball season.