With a swift pivot to the digital world of sports betting, North Carolina has outperformed its regional counterpart Virginia by leaps and bounds. In a recent tracking of online activity, GeoComply, a geolocation technology firm, observed a staggering 5.4 million location verifications across 370,000 active accounts. This flurry of activity occurred in a span from noon on March 11 until the end of March 13. This remarkable data overshadows Virginia’s first 48 hours of live sports betting back in 2021, which saw 2 million checks from a mere 134,000 accounts.
The discrepancy becomes even more noteworthy when considering the respective populations of both states, with North Carolina housing approximately 10.8 million residents, only marginally surpassing Virginia’s 8.8 million.
March 11 marked a monumental day for North Carolina, witnessing the launch of eight digital platforms that have since opened up mobile sports betting to the entire state. Reflected in the stats, the most substantial portion of these checks originated from central North Carolina. This region is synonymous with the sports heartbeat of the state, a coalition of major cities including Charlotte, Winston-Salem, Greensboro, and Raleigh-Durham, interconnected in an upside-down “U.”
The timing of North Carolina’s market entrance is nothing short of perfect, coinciding with the culmination of the college basketball season and the procession of conference championships. In light of the current AP Top 25 rankings, North Carolina sits proudly at No. 4, while their local rivals Duke claim the No. 11 spot, adding even more excitement to the mix.
Meanwhile, South Carolina, at No. 15, had GeoComply perform 6,175 location checks, despite the fact that sports betting remains illegal within the state. These numbers show the significant potential for market expansion on the assumption that legislations change.
Lindsay Slader, GeoComply’s Senior Vice President of Compliance, expressed enthusiasm over North Carolina’s entry: “It’s early, but North Carolina is already delivering on lawmaker expectations when they legalized online sports betting last year.” She lauded the state for its well-structured approach, which not only ensures consumer safety but also opens up vast revenue streams.
The debut of online sports betting segues beautifully with the NCAA Men’s Basketball Tournament, set to commence this weekend, post-Selection Sunday, with the first games slated for March 19. Depending on the outcomes in the conference championships, teams like Wake Forest or UNC-Charlotte could find themselves swept into the fabled March Madness. North Carolina, taking the ACC conference championships by storm, entered as the top seed, while Duke secured the No. 2 spot, with both teams scheduled for their first tournament game on Thursday.
At the heart of this exciting phase are the major national operators, all going live in North Carolina when operators launched around noon local time. Among them is the industry newcomer Underdog Sports, which made its first impression in the digital sports betting forum. Moreover, since as early as March 1, Caesars Sportsbook has been accepting online bets in Indian Country, thanks to its partnership with the Eastern Band of Cherokees.
What we’re witnessing in North Carolina is an explosive inception of mobile sports betting, a vibrant landscape that has been significantly bolstered by the timely alignment with one of the nation’s most anticipated sporting events. As the state continues on its trajectory, it sets a formidable precedent for other jurisdictions that are eyeing the burgeoning Online sports betting scene. This is not just a win for North Carolina but a glimpse into the transformative impact of digitalization on the realm of sports gambling nationwide.
