Legal sports betting successfully launched in North Carolina on Monday March 11, opening access to the nation's best sports betting sites to sports bettors across the Tar Heel State. For North Carolina fans getting ready to place bets for the first time, it is important for them to learn what to expect. Read on to get answers to the most common questions asked by new sports bettors.
How Does Sports Betting Work?
This week's North Carolina sports betting launch follows a lengthy legislative process that culminated with the signing into law of House Bill 347 by Governor Roy Cooper last June that legalized mobile sports betting in North Carolina. Since the passage of the new law, the North Carolina State Lottery Commission has since issued licenses to online sportsbook operators including six of the top online betting sites in the country, which are now authorized to accept wagers on sporting events taking place across the country and around the world.
In total, as many as 12 mobile sports betting licenses may eventually be granted by the North Carolina State Lottery Commission. In addition, eight new retail sportsbooks are set to open at major stadiums across the state including Bank of America Stadium, home of the NFL's Carolina Panthers, PNC Arena, home of the NHL's Carolina Hurricanes, and Spectrum Center, home of the NBA's Charlotte Hornets.
With the introduction of both mobile betting and retail sportsbooks, North Carolina sports bettors can expect to enjoy unprecedented access to legal sports betting, provided by some of the best sportsbook brands in the nation.
What Sportsbooks Are Available in North Carolina?
Six of the world's top online sportsbooks are among those that went live in North Carolina this week. To celebrate this historic event, they are each offering exclusive offers activated by NC betting promos that can earn new customers thousands in bonus bets that can be used to make wagers on important sports betting markets like the March Madness betting odds.
BetMGM North Carolina Bonus Code ROTOBONUS
Bet $5, Get $150 in Bonus Bets
Caesars Sportsbook North Carolina Promo Code ROTONC
Bet $5, Get $250 in Bonus Bets
ESPN BET North Carolina Promo Code ROTONC
Bet $10 Get $225 in Bonus Bets + 200% Deposit Match up to $500
bet365 North Carolina Bonus Code ROTONC
Bet $5 and Get $200 in Bonus Bets OR First Bet Safety Net up to $1000 in Bonus Bets
FanDuel North Carolina Promo Code
Bet $5, Get $250 in Bonus Bets
DraftKings North Carolina Promo Code
Bet $5, Get $250 In Bonus Bets Instantly
Betting Odds Explained: How Do Sports Betting Odds Work?
Betting odds offered by the best North Carolina sportsbooks work the same way as they do at the big sportsbooks you may have visited in Las Vegas. The online betting site publishes odds on events like games or player props that enable you to know how big the payout will be if you win.
Betting odds are used to determine the payout on many different bet types, with some of the most popular ones explained in the following sections.
What Does the Plus (+) and Minus (-) Mean in Sports Betting?
Odds published at sports betting sites in the United States will begin with either a + or -.
When a team sports odds that begin with "+", it typically means they are the betting underdog and the number that follows indicates how much you can win if you bet $100. For example, when you bet $100 at +150, your potential winnings are $150 for a total payout of $250.
Conversely, odds that begin with "-" typically indicate the team is a betting favorite and the number that follows "-" determines how much you have to bet to win $100. For example, if the betting line is -150, you will have to bet $150 to produce winnings of $100 and a payout of $250.
What Is the Moneyline in Sports Betting?
The moneyline is the most common bet type, and enables sports bettors to make straight bets on which team will win an event, with the payout determined by moneyline odds.
What Does the Spread Mean in Betting?
The spread, also known as the point spread, is the bet type of choice for sports bettors wagering on the NFL odds, NBA odds, college football odds and college basketball betting odds. With the spread, you can wager on how many points will win or lose by, with the payout determined by moneyline odds.
What Is a Parlay?
A parlay bet enables you to combine two or more separate wagers into a single bet, with enhanced odds producing bigger payouts. But it is important to note that every "leg" of your parlay must win for the parlay bet to be considered a winner.
What Is an Over/Under Bet?
An over/under bet, also known as a totals bet, enables you to wager on whether the total points, goals, or runs scored in a game will be over or under a number specified by the sportsbook. Over/under bets are popular in every major sports betting marketing including NFL picks, NBA picks, NHL odds and MLB odds.
How to Make Deposits & Withdrawals on Online Sportsbooks?
While some online sportsbooks enable you to make deposits and withdrawals through their sports betting websites, it is highly recommended that you use mobile betting apps to manage all your transactions at top online sportsbooks.
Most top sports betting apps enable you to make deposits using major credit cards or PayPal, which are typically processed instantly. Other available payment methods include debit cards, online banking, and wire transfer, which may take longer to process.
Withdrawals can also be made using top sports betting apps, typically using the same banking method you use to make deposits.
How Old Do You Have to Be to Sports Bet in NC?
You must be at least 21 years old and physically present in North Carolina to take advantage of legal mobile sports betting.
Do I Have to Pay Taxes on Sports Betting in NC?
Yes, you may have to pay taxes on your sports betting winnings.
According to the IRS, winnings from sports betting must be reported as "other income" on your income tax return, but you will only have to worry about paying tax if your net winnings from legal sports betting exceed $600 for the year.
Unlike states like Tennessee and Wyoming, where there is no state income tax on sports betting winnings, the state of North Carolina levies a flat rate of 5.25% on all taxable income, including net winnings on legal mobile sports betting in the Tar Heel State.
Accordingly, it is important to factor in the taxman's cut when you are managing your North Carolina legal mobile betting bankroll.
What Are the Best Online Sports Betting Apps in North Carolina?
North Carolina sports bettors can download mobile betting apps for Android and iOS devices from every online sportsbook now operating in North Carolina. However, the best online sports betting apps not only allow you to make your best bets, but also enable you to manage every aspect of your sports betting experience via a user-friendly and responsive interface.
The best online sports betting apps that we recommend include:
Bet365 North Carolina App:
With years of experience in mobile betting, Bet365 offers an app that is easy to use, making it perfect for new bettors trying sports betting for the first time.
BetMGM North Carolina App:
The BetMGM Sportsbook app is well-suited for veteran sports bettors looking for features like a bet editor, same-game parlays, early cash out, and live streaming of NBA, MLB, and NHL games.
Caesars Sportsbook North Carolina App:
Using the Caesars Sportsbook app, sports bettors gain access to some of the largest bonuses and promotions, making it attractive for bettors with bigger bankrolls.
DraftKings North Carolina App:
The DraftKings Sportsbook app is known for its slick interface and intuitive as well as one of the industry's biggest selections of same-game parlay options.
FanDuel North Carolina App:
The FanDuel North Carolina app is recognized for its quick and easy-to-use interface, along with fast payouts, catering to users who prioritize a seamless betting experience.
ESPN BET North Carolina App:
The ESPN BET leverages in-house technology to provide stats, previews, and streaming. The ESPN Bet also features odds boosts and insights from ESPN personalities.
This article is part of our Betting Promotions series.
