North Carolina greenlights March for online sports betting launch

The North Carolina State Lottery Commission has given its nod for the official launch of regulated online sports betting in the state, slated for 11 March 2024. In a significant move, customers residing in the Tar Heel State will have the opportunity to register online betting accounts with licensed operators and make deposits starting from 1 March, ahead of the official go-live date.

Sportsbook	Partnership
BetMGM	Charlotte Motor Speedway
DraftKings	NASCAR
ESPN Bet	Quail Hollow Club
Fanatics Sportsbooks	Carolina Hurricanes
bet365	Charlotte Hornets
FanDuel	PGA Tour
Underdog Sports	McConnell Golf

The table above provides a concise overview of the sportsbooks set to launch in North Carolina along with their respective partnerships. (Source: SiGMA)

Major players and license applications

Among the frontrunners currently seeking licensing for online sports betting in North Carolina are well-known industry giants such as FanDuel, DraftKings, BetMGM, bet365, Fanatics, and ESPN Bet. Additionally, other entities, including Underdog Sports, Tribal Casino Gaming Enterprise Cherokee, and the Catawba Two Kings Casino, are also in the pursuit of securing licenses.

Applicants vying for licences have a crucial deadline of 26 January to submit their internal controls to the state regulator. This step is pivotal in showcasing their operational readiness and ability to commence accepting bets on the scheduled launch date of 11 March. The approval process signifies a major leap forward in bringing comprehensive online sports betting options to North Carolina residents.

Background and regulatory framework

Currently, sports betting is permitted at retail locations within the state’s land-based casinos. The legislative milestone, sports betting bill HB347, signed into law in June of the previous year, opened the door for online betting. The bill allows for the launch of up to 12 online sportsbooks and eight retail sportsbooks.

In a recent amendment to the legislation, operators are now required to hold written agreements with one of the 11 professional sports organizations in the state. Partnerships with major sports entities, such as bet365 with the NBA’s Charlotte Hornets and BetMGM with the Charlotte Motor Speedway, have already been established.

The licensing structure involves a $1 million fee for a five-year licence, and operators will be subjected to an 18 percent tax on their revenue. Oversight of the sector will be managed by the North Carolina Education Lottery, ensuring compliance and responsible gaming practices.

The upcoming launch represents a significant milestone in North Carolina’s gaming landscape, bringing a wide array of online sports betting options to enthusiasts and ushering in a new era for the state’s gaming industry.

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