Roundball Rock
Online sports betting went live in North Carolina at noon on Monday, March 11, just in time for March Madness. With both men’s and women’s conference tournaments in full swing (some are already done), sports fans in one of the basketball-craziest states in the country have plenty of opportunities to throw a few bucks on their favorite teams over the next few weeks.
There are eight licensed mobile operators in North Carolina: bet365, BetMGM, Caesars, DraftKings, Fanatics, FanDuel, ESPN BET, and Underdog Sports. There are four license slots still open – the Catawba Indian Nation applied for one, but has not been granted a license yet.
Though the North Carolina online sports betting industry is just a day old, the Charlotte Observer has already warned its readers to be aware of scam sports betting apps. The apps are designed to look completely legitimate and offer an experience that seems real, but you can never cash out. They are simply fake sportsbooks that do not provide a service other than taking your money.
One person told the Better Business Bureau that when he finally spoke to a representative of the fake app after multiple attempts to cash out, “….they needed a picture of my driver’s license, a photo of myself holding my ID, and a blank check from my bank.”
Sounds like that scambook was also trying to steal the person’s identification.
State anticipates a haul
With an 18% tax rate, the state estimates that it will bring in $22 million in the 2023-24 fiscal year and over $100 million by 2027-28. $2 million is required to go to gambling addiction services each year and another $1 million is earmarked to purchase youth sports equipment.
The athletic departments at these thirteen state schools will each receive at least $300,000 per year: Appalachian State University, East Carolina University, Elizabeth City State University, Fayetteville State University, NC A&T State University, NC Central University, UNC Asheville, UNC Charlotte, UNC Greensboro, UNC Pembroke, UNC Wilmington, Western Carolina University, and Winston-Salem State University. Some estimates have each school’s allocation well over $1 million next fiscal year. If there is not enough tax revenue for each school to receive $300,000, they will receive less, but the shares will be equal.
For those who prefer to bet on sports in person, three tribal casinos have retail sportsbooks: Harrah’s Cherokee Casino Resort, Harrah’s Cherokee Valley River, and Catawba Two King’s Casino.
Other brick-and-mortar sportsbooks will likely pop up in the future, as eight professional sports venues and golf course have licenses.
Image credit: Jed Record via Flickr