North Carolina emerges early as top state for sports betting as NCAA tournament plays out

ASHEVILLE, N.C. (WLOS) — North Carolina is making its way up the ranks and is set to become one of the top states for sports betting – if not the top.

Fans in sports bars and at home across the mountains pulled out their phones Saturday and placed their bets as the NCAA March Madness tournament played out for teams fighting for a spot in the Sweet 16.

The North Carolina Tar Heels took home a win against Michigan State in an 85-69 defeat, setting up a Sweet 16 showdown against either 12-seed Grand Canyon or 4-seed Alabama on March 28.

This win also means sports betting continues across North Carolina and the rest of the state.

The numbers show so far that North Carolina sports fans have been quick to download and play on sports betting apps, with local favorites getting some extra love.

Draft King's top odd maker said Saturday the Tar Heels are currently the favorite in the NCAA tournament and they are also sitting with the most bets placed to win it all.

We believe, that over time, North Carolina is going be a top five, top eight market, no question, in the U.S.,” John Pappas, a senior advisor with GeoComply, said earlier this week.

Betting doesn't stop with just college basketball; state economists predict that sports betting in North Carolina will hit the $64 million mark by the end of year, and this will all be through several licensed companies.

"There has been an enormous increase in sports betting, especially among young people, at least as I've noticed," said Dr. Michael Walden, a North Carolina State University economist. "So, my guess is that this activity will generate the revenues that the state is expecting."