Legal sports betting getting boost from March Madness

RALEIGH, N.C. (WTVD) -- In just its first week, legalized sports betting in North Carolina has hit the ground running.

"I was very excited. I've been to (Las) Vegas a couple of times in the last couple of months, and, you know, it's legal out there. So I was ready to see it happen here," said sports fan James Gentry, who ABC11 spoke to at Sports and Social in Cary.

And in Vegas right now, all eyes are on North Carolina. DraftKings' top oddsmaker knew our state would be a safe bet.

"This is a state that knows their basketball and what better time to launch in that state," said Johnny Avello, DraftKings Director of Race and Sportsbook Operations.

No surprise that among bettors, college basketball is king in North Carolina. DraftKings wouldn't say how many downloads their app has gotten in North Carolina, but as for which teams are seeing the most bets placed to win the NCAA tournament -- Tar Heels are on top, followed by Duke, UConn, Houston, and Purdue.

But Avello said he thinks even beyond March Madness, excitement won't die down.

"Once we get through the basketball tournament, the big one starts next week and we get through that with the course, the three weeks. We've got some major events coming up. I think golf is going to be big down there, you know because that's a big golfing community. They know their golf. And we'll be at the Masters and some other golf to follow the major tournaments throughout the year," Avello said.

State economists are predicting that it's likely the state will reach a target of $64 million in the first year from the seven licensed sports-betting companies.

"I think there's been an enormous increase in sports gambling especially among young people at least that I've noticed. So my guess is that this activity will generate the revenues that the state's expecting," said Dr. Michael Walden, with NC State.

Economists said it normally takes a few years to see the full effect. They also said they believe that once the brick-and-mortar sportsbooks open at places such as PNC Arena, that will also create more revenue.

The NC Education Lottery Commission said it won't have its first economic report on the results of legalized sports betting until April.