North Carolina sports betting is poised to see increased returns from the college football season

This past March was the first month that legal sports betting in North Carolina was made available to the public. So far, the state has been thriving. Taking wagers on NFL, NBA, NHL, and Nascar. While those sports proved to be profitable, North Carolina is expected to see a huge boost in revenue this fall from college football. DraftKings CCO Jeremey Elbaum noted that collegiate teams in North Carolina were profitable earlier this year and he doesn’t see a change happening for football season. During the March Madness tournament, North Carolina ranked in the top 10 of all 38 legal wagering states. That all happened just 21 days into the online betting market being available to NC residents. For the start of April, North Carolina ranked fifth in terms of total handles. That was ahead of states that already established themselves like Pennsylvania and Ohio. 

With college football back in full effect this weekend, North Carolina is in a position to have another profitable quarter. On Thursday, three FBS teams in North Carolina started started their season. That included the 24th-ranked N.C. State Wolfpack with a  39-21win vs. Western Carolina. DraftKings director of sports operations Johnny Avello had this to say.

“The Tar Heel State has passionate football fans, representing several FBS teams at the college level, and of course the Panthers in the NFL. We’re looking forward to introducing these fans to our key football offerings all season long and creating the ultimate fan experience.” – said Avello

There is potential for North Carolina to have their highest monthly revenue this fall

Since sports betting was fully legalized in North Carolina, the state has seen how profitable the industry can be. In the first 50 days of launching, North Carolina generated a $1 billion handle. From March to July, the state’s seven online sports betting operators combined for over $315 million. Since launching in March, they have $57 million in estimated tax revenue. Another team in the state that kicked off their season on Thursday night was the UNC Tarheels. They were on the road for an out-of-conference game vs. Minnesota. The Golden Gophers missed a field goal late in the game and UNC held on for a 19-17 victory in Week 1. Additionally, Wake Forest kicked off their season at home vs. North Carolina A&T with a 45-13 win. The Duke Blue Devils start their 2024 season at home vs. Elon as 49.5-point favorites.