The North Carolina betting market may be about to take off in a big way, according to data from GeoComply.
With 5.36million geolocation checks and 370,000 active betting accounts, the company has confirmed huge activity within the first 48 hours of the market’s operation.
In the build-up to March Madness, North Carolina is the latest state to legalize online sports betting. The hotly-anticipated launch came to fruition when the state legalized online gambling in June of 2023.
As of today, there are almost a dozen licensed online sports betting operators in the state. These include FanDuel, DraftKings and ESPN BET.
Other operators in the North Carolina betting market are Underdog Sportsbook, Bet365, BetMGM, Fanatics Sportsbook and Caesars Sportsbook. Each of these offers a huge range of betting options, catering to whatever markets you can think of.
And this new report from GeoComply, a leader in compliance, fraud prevention and geolocation technology, only highlights the success so far.
GeoComply revealed there were more than 5.36 million geolocation checks within the first 48 hours of the state opening the sports betting market. They also shared that some 370,000 active accounts appeared within this period.
In a statement, GeoComply said: “The first 48 hours of sports betting in North Carolina has confirmed what we already know: there is huge demand for legal online betting in the Tar Heel State.”
North Carolina Betting Market On Its Way To Becoming Major Player
The North Carolina betting market launched mobile sports betting on March 11, 2024. Following the launch, GeoComply’s data backed up its earlier prediction of a high demand for online betting in the state.
In the past, the geolocation technology provider estimated that a good portion of North Carolina residents visited nearby Virginia and Tennessee to bet online.
But this new launch means the state of North Carolina can collect tax revenue it previously missed out on. Furthermore, online sports betting is now regulated and legal, providing player protections and fair conditions.
Adding to their statement, GeoComply said: “With March Madness on the horizon, North Carolina is poised to be one of the leading markets in the country.”
The famous NCAA men’s division 1 basketball tournament is fast approaching. March Madness runs from March 19 to April 8.
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