March Madness aids strong start to online sports betting in North Carolina

Basketball with a march madness logo on it
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North Carolina’s strong start as an online sports betting market has continued through the opening of March Madness.

Geolocation solution provider GeoComply has reported a 46% week-over-week increase in online sports betting activity in the state on the first day of March Madness as well as a 46% uptick week-over-week in unique active accounts across the state.

Looking specifically at the city of Charlotte when UNC was playing, the company observed a 51% increase week-over-week in online sports betting activity and a 41% uptick in unique active accounts.

Impressive debut in North Carolina

Last week, GeoComply released similar data that showed online sports betting had made a strong start in the state. The company reported that it conducted over 5.3 million geolocation checks from nearly 370,000 sportsbook accounts in the first few days of operation.

Online sports betting launched in North Carolina on March 11 and eight sportsbooks are live in the state. Bet365, BetMGM, DraftKings, ESPN Bet, Fanatics Sportsbook, FanDuel and Underdog were all approved by the North Carolina State Lottery Commission for wagering licenses.

“It’s early, but North Carolina is already delivering on lawmaker expectations when they legalized online sports betting last year,” said GeoComply SVP of Compliance Lindsay Slader. “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.”

March Madness a big opportunity for sportsbooks

With the American Gaming Association estimating that Americans will legally wager $2.72 billion throughout the tournament, March Madness is one of the biggest times of the year for U.S. sportsbooks.

Research from Optimove has found that the men’s tournament has the potential to drive an 87% uptick in betting and can also be a major catalyst for engaging first-time bettors.