Astonishingly Huge Dollar Amount Wagered In First Week Of North Carolina’s Legalized Sports Betting
The state of North Carolina had some big winners last week. The University of North Carolina, North Carolian State, and Duke all made the NCAA Tournament’s “Sweet Sixteen.” And the state itself made $7.7 million in tax revenue from $198 million wagered in the state’s first week of legalized online sports betting.
The North Carolina State Lottery Commission announced some pretty staggering numbers when it comes to the state’s first week of online sports betting. Total wagered? $198.1 million. That breaks down to $42.7 million in gross wagering revenue and almost $8 million in tax revenue. The numbers from the first day alone are eye-opening. March 11 (day one) saw $23.9 million wagered with $11 million in gross revenue with $2 million in tax revenue for North Carolina. I wonder what the numbers would look like if online sports betting had gone online before noon that day!
The understatement of the year when it comes to legal online sports betting in North Carolina comes from Sterl Carpenter, the NC State Lottery Commision’s Executive Director of Gaming Compliance and Sports Betting (quite a title for a business card, yes?). He tells sportshandle.com, “I think people liked the ability to wager in North Carolina on sports.” On a similar note, it’s been reported that fish apparently like to swim in water.
On a related online sports betting note, yesterday the NCAA announced it’s pushing for a ban on player prop betting in college athletics. Maryland and Ohio have already adopted such measures. I understand the reason for this. Of all things that can be manipulated by the seedy side of gambling, individual player stats are the easiest. That being said, I kind of feel like once the toothpaste is out of the tube, it’s hard to put it back. That being said, North Carolina says it would consider such a measure if the NCAA asks.
Online sports betting in North Carolina is here to stay. However, what you can and can’t wager on (at least with college athletics) appears to be a more fluid situation.
It was an active first week of online sports betting in North Carolina, according to financial figures released by the state lottery commission.
— Bennett Conlin (@BennettConlin) March 27, 2024
Plus, the commission says it would consider banning college player prop bets, if asked by the NCAA.https://t.co/fEy5A6Db1W