Sports betting to start later than expected in NC

You've likely been inundated with advertisements for online sports books. That's because sports betting will soon be available in North Carolina. Prior to legalization, reports estimated some $7 billion in bets could be placed in the state this year and produce tens of millions in tax revenue.

Chris McLaughlin, a tax professor at the University of North Carolina-Chapel Hill, says while those figures are in line with similar states, it'll likely take a while to reach those numbers.

"I think it's fair to say in most states, it takes a year or two or more for it to get anywhere near the projections. I think that's probably true of any type of opening a new market," he said.

Some big names have already submitted their applications for licenses. DraftKings, FanDuel, Fanatics and four other companies met the Dec. 29 deadline, triggering a 60-day review period.

The state lottery commission has acknowledged it cannot meet the earliest start date of January 9th and that it will miss the Super Bowl in early February. The commission is now looking to have online sportsbooks approved and on the market ahead of March Madness.