The state of North Carolina recently legalized statewide sports betting through smartphones and desktops, which began two weeks ago and has seen a strong start so far. Preliminary numbers presented at a meeting of the North Carolina State Lottery Commission revealed that over $23.9 million had been wagered by midnight on the first day, with almost half of that amount being promotional wagers. Bettors were paid $12.2 million in winnings during the first 12 hours, and over $198.1 million had been wagered in the first week, with $141.6 million in bet winnings paid out. Gross wagering revenue, which the state receives an 18% tax cut from, was close to $42.7 million.
North Carolina Executive Sterl Carpenter stated that while it is too early to make accurate comparisons to other states, North Carolina’s sports betting launch appears to be on par with the rollout in Massachusetts last year. He attributed the early level of winnings to the success of college basketball teams in the state post-season. The legislation also includes provisions for in-person wagering, statewide betting on horse races, and rules for live horse racing. Before this law was implemented, sports betting was only legal in North Carolina at three casinos operated by two American Indian tribes.
In addition to sports betting, the North Carolina Education Lottery has also seen early success with digital instant games, which were launched in November. These games, accessed through a login-protected computer or smartphone screen, have proved popular, with sales more than five times higher than projected in the lottery’s annual budget. Over 147,000 people have played digital instant games since the launch, helping to increase overall lottery gaming revenue compared to the previous year. Commission Deputy Executive Director Randy Spielman attributed this success to the lottery’s existing online ticket sales and player rewards program on its website.
The North Carolina State University men’s basketball team recently won their first ACC title since 1987, contributing to the success of sports betting in the state. The legislation signed into law by Governor Roy Cooper also authorizes future in-person wagering, statewide betting on horse races, and rules for live horse racing. This expansion of gambling options has been met with enthusiasm and has proven to be a revenue generator for the state lottery. With the success of sports betting and digital instant games, the North Carolina Education Lottery has seen record-breaking sales and net earnings over the past year.
