Record-Breaking Sweet 16: How Sports Betting Is Revolutionizing North Carolina’s Triangle Atlantic Coast Conference Teams

Launch of North Carolina sports betting drives significant revenue during March Madness; $141 million awarded in winnings

As a journalist, I have rewritten the following article to make it unique.

For the first time in almost a decade, all Triangle Atlantic Coast Conference teams have made it to the Sweet 16. This has sparked excitement across North Carolina as sports betting was recently legalized in the state. In the first week of legalization, the North Carolina Education Lottery Commission reported that $141 million was paid out in winnings, with an estimated $198.1 million wagered. The “gross wagering revenue”, used to calculate the state’s tax cut of 18%, was close to $42.7 million.

Sports gambling has been a major contributor to this revenue, and NC State fans experienced strong payouts as their team performed well in the ACC Tournament and advanced to the Sweet 16. Although it is too early to make comparisons with other states, North Carolina’s sports gambling launch seems to be on par with Massachusetts’ rollout last year.

Sterl Carpenter, an executive overseeing sports gambling, mentioned that mobile sports wagering in North Carolina has had a strong start according to operators’ public comments. However, as teams continue to win, odds may change, affecting payouts for those who placed bets earlier. Currently, sportsbook director Johnny Avello from DraftKings has UNC at +1100 to win the NCAA tournament, Duke at +2200, and NC State as an underdog at +9000.

Even after March Madness ends, the betting trend is expected to continue. Las Vegas oddsmakers are also favoring the Carolina Hurricanes’ chances at winning the Stanley Cup, listing them as the second favorite team. The excitement surrounding sports betting in North Carolina is expected to remain high in the coming months as more people become aware of its availability and potential rewards.

In conclusion

As a journalist, I have rewritten the following article to make it unique. For the first time in almost a decade, all Triangle Atlantic Coast Conference teams have made it to the Sweet 16. This has sparked excitement across North Carolina as sports betting was recently legalized in the state. In the first week of…

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