North Carolina’s online sports betting market sees strong start

North Carolina's foray into online sports betting has kicked off with significant activity, as indicated by data from GeoComply, a geolocation compliance company. Within the first 48 hours of the state's launch on Monday, March 11, more than 5.36 million geolocation checks were recorded.

Comparatively, neighboring Virginia, which has had online sports betting since January 2021, saw just over 2 million geolocation checks during the same period.

The enthusiasm for online sports betting in North Carolina is also reflected in the number of active accounts. GeoComply identified nearly 370,000 active online sports betting accounts in the Tar Heel State during the initial two days of operation, surpassing the 134,000 accounts recorded in Virginia.

“It’s early, but North Carolina is already delivering on lawmaker expectations when they legalized online sports betting last year. The state’s well-structured approach to mobile sports betting safeguards consumers and opens up significant revenue streams. With March Madness around the corner, we are excited to see continued growth,” Lindsay Slader, GeoComply’s SVP of Compliance, said in a press release.

With major events like the ACC men’s basketball tournament and NCAA March Madness on the horizon, further growth is anticipated.

In-state colleges have been a popular choice among bettors, with a significant portion of bets being placed on the UNC Tar Heels to win the NCAA basketball championship. According to reports from BetMGM and Caesars Sportsbook, bets on UNC have been particularly prevalent, with users showing confidence in the team's chances.

Eight operators are currently live, offering a range of betting options: bet365, partnered with the Charlotte Hornets; BetMGM, partnered with Charlotte Motor Speedway; Caesars Sportsbook, partnered with Tribal Casino Gaming Enterprise Cherokee; DraftKings, partnered with NASCAR; Fanatics, partnered with Carolina Hurricanes; FanDuel, partnered with PGA Tour; ESPN BET North Carolina, partnered with Quail Hollow Club (PGA Tour course); and Underdog Sports, partnered with McConnell Golf.