North Carolina Sports Betting Figures Show The Power Of March Madness

The State Lottery Commission has released North Carolina sports betting data for March. This is the first sports betting report for the Tar Heel State. In total, operators saw $659,308,541 in wagers from March 11, when sportsbooks launched, to March 31. With just three weeks of activity, North Carolina sportsbooks were able to see a massive success in its launch month.

Let’s take a look at how March Madness betting impacted the launch of North Carolina sports betting.

North Carolina Strong Start

The report reveals that North Carolina operators took in $66,496,213 in gross wagering revenue on the month. With NC taking in 18% in taxes, the state collects 11,969,318.34 from sports betting. North Carolina’s figures represent a strong launch. For comparison, Virginia launched sports betting in February 2021 and saw $540 million in betting.

March Madness Betting Leads To Betting Boom In NC

Unsurprisingly, March Madness played a major part in North Carolinas strong launch. Online sportsbooks see more wagers during March Madness than any period of the year. This March Madness was the most bet event in U.S. history, with an estimated $2.78 billion being wagered, according to the American Gaming Association.

According to DraftKings, the National Championship Game between UConn and Purdue was the most wagered college basketball game of all time. According to Caesars, the National Championship between South Carolina and Iowa was also the most wagered women’s college basketball game, doubling the previous record for handle.

North Carolina picked the perfect time to go live with sports betting, with three prominent schools competing deep in the tournament. Duke, NC State, and UNC all made it to the Sweet 16. In fact, Duke faced NC State in the Elite Eight, a game that was sure to have brought local bettors in droves.

April will be a more clear example of what the North Carolina betting market will look like. It will be the first full month of betting, and the March Madness Tournament would have reached its conclusion. Will North Carolina bettors continue to push the market to massive heights?