The North Carolina State Lottery Board has every reason to celebrate receiving over $198 million in the first week of sports betting starting Monday, March 11.
The detailed figures were released by the Commission's first sports betting report. Total betting revenue of $142 million came from bets totaling $198 million.
Further analysis showed that $24 million was bet on the first day of the market. Of this, $11 million was paid for in total betting revenue. North Carolina is subject to an 18% tax rate on total gaming revenue.
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So far, the North Carolina State Lottery Board has awarded operators eight two-way sports betting licenses.
FanDuel, Caesars Entertainment, DraftKings, Fanatics, Bet365, BetMGM, ESPN Bet and Underdog have all secured licenses.
Businesses seeking to offer sports betting in the state must partner with sports teams, leagues or stadiums within North Carolina. All those licensed have secured these deals, including DraftKings with NASCAR.
BetMGM is working with Charlotte Motor Speedway, while ESPN Bet has announced golf's PGA Tour and Wells Fargo Championship as partners.
Fanatics betting and gaming partnered with the Carolina Hurricanes of the NHL. Fanatics will be the team's official sports betting partner. Bet365 signed a partnership agreement with the Charlotte Hornets of the NBA in November 2023.
In addition, Underdog has expanded its position as a paid fantasy sports operator through a partnership with McConnell Golf.