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North Carolina Release $198 Million Sports Betting Handle After One Week

Louis Fargher

North Carolina has seen a monstrous first week of sports wagering, as the American state release a $198 million sports betting handle.

North Carolina Release $198 Million Sports Betting Handle

In a report released by the North Carolina Commission, it was revealed that following the recent legalization of sports betting, the state acquired a $198m handle during the opening week.

North Carolina legalized eight sports betting operators on March 11th, becoming the newest state to open wagering in the United States.

The selected operators were, bet365, BetMGM, Caesars Sportsbook, FanDuel, Fanatics Sportsbook, DraftKings, ESPN Bet, and Underdog.

NCLC has given the recent data, accepting $198.1m in sports wagers during the opening week of regulated wagering, which included $81.3m through promotional bets.

During this initial week, the chosen operators paid $141.5m in total winnings back to the users and highlighted the positives in legalizing sports betting.

The gross wagering revenue within the state during its first week sat at $42.6m, behind an 18% tax rate and this number is set to rise during March Madness.

Residents have clearly taken to the new legalization, as GeoComply made over 5.3 million geolocation checks in North Carolina during the first 48 hours of sports wagering.

An estimated 370,000 sportsbook accounts had been created which is more than Virginia – where GeoComply completed 2 million checks.

GC also delved into the opening weeks of March for sports betting in North Carolina, as the first day of March Madness briought a 46% increase week-on-week.

North Carolina has been heavily impacted by the opening of March Madness, as residents show huge interest becayse if Duke, UNC and NC State’s involvement in the tournament.

The latter, NC State, continue to attract basketball enthusiasts and gambling fans in North Carolina, as the men’s team picked up five wins across five days to win the ACC tournament – while earning a spot in the NCAA competition.

Louis Fargher
Louis Fargher

Louis is a news and features writer, specializing in gambling and sports. Louis has contributed different forms of content for professional sports teams, whilst acquiring a degree in journalism in the UK and has years of writing experience within the gambling industry.