A new era of gaming is dawning in North Carolina with the imminent launch of online sports betting slated for March 11th, deliverance of a pivotal move following Governor Roy Cooper’s enactment of House Bill 347 last year. In anticipation, a cadre of prominent virtual sportsbook operators has been granted the green light to commence operations, among which are industry juggernauts FanDuel and DraftKings. The roster of licensees also boasts Fanatics, bet365, BetMGM, ESPN Bet, and the less familiar Underdog, poising the state to become a competitive arena in the digital gaming market.
North Carolina’s entry into online sports wagering comes with a distinctive requirement: all operators must forge a partnership with a local sports entity, whether it be a team, league, or venue. This mandate spurred an onslaught of strategic alliances as companies scrambled to satisfy the prerequisite for a spot in the lucrative market. DraftKings, for example, secured its position through collaboration with Nascar, leveraging the revered stock-car racing series’ clout. BetMGM found an ally in the Charlotte Motor Speedway, while ESPN Bet solidified its foothold by signing a significant partnership with the PGA Tour, enlisting as the official betting entity for the state-hosted Wells Fargo Championship.
Entering the sports betting scene as a lesser-known contender is Underdog. Originally a purveyor of paid fantasy sports, the company leapfrogged into sports betting in North Carolina, marking its first license in this sector, through an alliance with McConnell Golf. Comparatively, Caesars Entertainment expanded its influence via a tribal agreement with the Eastern Band of Cherokee Indians (EBCI), although it currently holds only a service provider license as the EBCI awaits their operational approval.
The initial list unveiled by the North Carolina Commission included seven approved operators. However, a subsequent announcement on Thursday expanded the list to encompass the Tribal Gaming Casino Enterprise, an EBCI enterprise. Notably, the EBCI is no stranger to the sports betting realm, already operating land-based sportsbooks within its casinos in both Cherokee and Murphy.
In preparation for the grand opening, residents can start registering and depositing with the licensed operators from 12pm ET on March 1st, a Friday. Bolstering this milestone, an array of companies such as GeoComply, SBTech, and Sportradar have been issued sports wagering supplier licenses, further enhancing the state’s sports wagering infrastructure ahead of the start date.
Committed to responsible gaming, the Commission sanctioned a voluntary self-exclusion program earlier this month as a facet of the NC Problem Gambling Programme. This initiative underscores the state’s dedication to harm prevention, education, and supportive services in relation to gambling. Inline with the provisions of House Bill 347, the programme is set to receive an annual endowment of $2 million to augment its offerings. The self-exclusion protocol permits residents to opt-out of sports betting, either online, in-person at retail sportsbooks, or for horse racing, for one year, three years, five years, or even a lifetime. Registrants automatically forfeit any consequent winnings, emphasizing a commitment to avert gambling pitfalls.
As North Carolina positions itself as the 30th state to authorize online sports betting, it has established an 18% tax on each license holder’s gross gaming revenue—up from an initial proposal of 14%. This adjustment is one among many nuanced steps the state has taken to ensure a robust and responsible launch of this eagerly awaited sports betting chapter.
