CHARLOTTE, N.C. (Queen City News) – Just over a minute into Monday's game between the Hornets and Detroit Pistons, Charlotte's Miles Bridges scored from inside the paint. As a result, thousands of gamblers have won up to $50.
This was part of a promotion from DraftKings. This betting platform doubled the user's bet if the Hornets scored just one point during the game.
This wasn't the only launch-day deal for North Carolinians. Some newly licensed online sportsbooks have offered new customers the opportunity to inflate their accounts.
- BetMGM – Bet $5, Win $150
- Bet365 – Bet $5, Win $200
- Caesars Sportsbook – Bet $10, Win $250
- DraftKings – Bet $5, Win $250
- ESPN BET – Win $200 on any bet
- FanDuel – Bet $5, Win $250
Payments are provided in bonus bets or gambling credits, and users cannot withdraw cash immediately. Gambling analysts say this is a common way to lure new entrants.
“This is the easiest bet ever,” Steve Bittenbinder said. Contributor to Bet Carolina.
The total amount the state will bring in through gambling-related taxes is not yet known. Once state representatives began discussing the bill, it was estimated that it would amount to about $65 million in the first year. Bittenbinder said this is a low estimate and likely used on outdated information about sports betting trends. While previously bettors focused primarily on betting the money line, they now have the option to make more complex bets such as parlays.
“Those are lucrative bets. If everyone hits, you'll get a pretty good payoff,” Bittenbinder said. “The problem is that it's a very difficult bet to get right. It's kind of like a lottery, in that you have to get everything correct in the same game parlay to get the payout. FanDuel and DraftKings have seen a significant increase in their profits because of this. They have increased their revenue because of this.”
BetCarolina projects that if all goes well, the state's burden could be up to $130 million in 2024.
“This time four years ago, we thought Indiana was going to be a huge state in its first year,” Bittenbinder said. “Eventually it happened, but everything shut down for three or four months and I didn’t get the immediate rewards I thought I would get.”
State law states that $1 million in annual gambling funds will go to the Department of Health and Human Services for gambling addiction education and treatment programs.
An additional $1 million each year will expand youth sports opportunities. North Carolina Amateur Sports will distribute funds through grants to local governments and nonprofit organizations. Funds can be used to upgrade equipment and facilities. No single county may receive more than 1 percent of the total available funds each year.
State officials allocate $300,000 annually to athletic departments at the following UNC System schools:
- Appalachian State University
- east carolina university
- elizabeth state university
- North Carolina A&T State University
- north carolina central university
- UNC Asheville
- UNC Charlotte
- UNC Greensboro
- UNC Pembroke
- UNC Wilmington
- western carolina university
- Winston Salem State University
If revenue from mobile sports betting is not sufficient to cover each school's share, each school's tax will be collected in the same amount.
Members of the State Lottery Commission will be reimbursed for administrative costs incurred in establishing parameters for mobile sports betting.
The remaining balance will be divided among the aforementioned universities, the state's general fund, and the Events, Games, and Attractions Fund.
Gambling addiction support is available at morethanagame.nc.gov or 877-718-5543.
