Market Not Expected to Slow Down
The Tar Heel State’s impressive handle is outstanding, and there is no reason to think it will cool off before the end of 2024. That is due to the NFL season, which is the country's most popular league to wager on. The season kicked off just three weeks ago and will run into 2025, meaning the state’s online sportsbooks will remain busy over the next few months.
North Carolina has also benefited from being one of the country's largest college basketball markets. The state has four teams in the ACC alone, with Duke and the University of North Carolina being two of the biggest programs in the nation. Each team has a massive fan base, and many of them have taken to betting on games.
Retail Sports Betting in the Way
The NCLC approved a proposal on Wednesday that will allow for the regulation of retail sports betting. While both markets were made legal, the state has taken its time getting rules in place for how the retail one will work. The goal was to get online sports betting live quickly, removing the pressure to rush through launching retail sports betting.
The regulations around retail sports betting set a high bar for operators to clear in order to launch. The most important of which is the banning of temporary or pari-mutuel locations. That means operators must either find a casino or begin plans to build one before their sportsbook can open.
It appears e-sports betting is also on the way, with the NCLC approving guidelines to allow operators to offer those wagers.
Problem Gambling Helpline Reports 79% Increase
Unfortunately, the industry's success has coincided with a spike in problem gambling. The Department of Health and Human Services has reported a 79% increase in calls to its helpline.
Lottery gaming was the leading reasons for calls before the industry has launched, but it has stayed flat since then. Instead, calls about sports betting have spiked, making it the leading issue.
The spike is not unexpected, but it is a problem the state must address. They could soon get some help from the federal government, which is currently considering a bill to overhaul the industry.