The long awaited release is finally upon us, with mobile sports betting currently scheduled to launch in the state of North Carolina on Monday, March 11. As with most decisions in the business world, the launch date wasn’t chosen by accident. College basketball is a way of life in North Carolina between the UNC Tar Heels, Duke Blue Devils, Wake Forest Demon Deacons, and a handful of other Division 1 schools who always seem to be in the mix, whether it’s in the men’s tournament, the women’s tournament, or both.
The excitement of the tournament means a flurry of new bettors rushing to get a piece of the action, and that phenomenon ratchets up to a fever pitch when one considers how the deluge of betting advertisements and promotions we’re going to see over the next few weeks helps draw new customers in. Here’s everything you need to know if you’re looking to ride the wave… and do so at a discount price.
First-Time Bettors
If you’ve never placed a sports bet before—or you’ve only done so at a few select sportsbooks—now is an excellent time to start. Sportsbooks are eager to attract new customers interested in exploring betting opportunities. They offer enticing deals through exclusive Caesars Sportsbook North Carolina promo codes, presenting opportunities that are too good to pass up.
One of my personal favorites is the risk free bet promotions, which give you a safety net if the first bet you place fails. These pack a heavy financial punch, often up to $500 or $1000, so you’ll have a great opportunity to make your money back with a second chance bet if you don’t get lucky the first time. Risk free bets give you a chance to live a little dangerously, as it’s more tempting to bet on long odds if you know that you have a chance to redeem yourself if the first bet fails, but it’s smarter to bet as you usually would, remembering the mantra that you shouldn’t wager anything that you can’t afford to lose.
Another type of promotion for first time bettors is the deposit match, where the sportsbooks give you betting credits (again, typically up to $500 or $1000) equal to the amount that you deposit. There’s no safety net with these promos, but it’s nice to have a bit of extra money to play around with.
It’s Not Over Yet!
One thing that’s important to keep in mind is that more than 60 percent of states have already legalized online betting, so North Carolina is pretty late to the party. If you’ve already placed bets using one of these first time promotions in another state, it’s possible that the sportsbooks you choose won’t let you double dip from state to state… although policies vary between betting outlets, so it certainly doesn’t hurt to give it a shot.
Even if you’re a returning bettor who does find themself frozen out of the first-time frenzy, hope isn’t lost. Make sure to sign up for email notifications when you make your new account tailored for North Carolina, because most sportsbooks release periodic promos to keep you coming back to the action. It might be another risk-free bet or deposit match—albeit at a much lower price than the first-time options, typically somewhere between $10 to $25—or an odds boost that will give you an even bigger payout if your parlay hits.
Like I said, major sporting events play a big role in driving betting traffic, so don’t be surprised if you get those notifications during the NCAA Tournament or ahead of other championship events like the Stanley Cup, Super Bowl or World Series. Because betting apps need your location information to verify that you’re wagering from a location where it’s legal to do so, other promotions will be tailored toward local teams, like what the Tar Heels or Carolina Hurricanes are up to at a given time.
What’s in it for the Bookies?
With these massive dollar amounts getting thrown around in promo deals, it’s common to wonder what the sportsbooks get out of it. In the early days of the mobile betting industry, placing wagers was an absolute free for all, where sportsbooks could write off the money they lost from promotions as a tax deduction, saving them hundreds of millions of dollars in the eyes of the IRS.
These days, state and local governments have wised up, and they aren’t letting sportsbooks deduct their promotional losses to quite the same extent… but when one considers just how successful the first-time promotions are at bringing new bettors into the fold, it’s still money well spent in the eyes of Las Vegas.
