- North Carolina Prepares for Online Sports Betting Launch
- Licensing Process Underway Under the Supervision of the Lottery Commission
- Nine Operators Apply for Licenses to Enter the North Carolina Market
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Launch Date Approved by the North Carolina Lottery Commission
On January 24, the North Carolina State Lottery Commission approved the launch date for online sports betting.
Starting March 1, 2024, players will be able to start registering and funding their accounts. If all goes according to plan, North Carolina’s online sports betting market will be operational in time for March Madness, the NCAA’s annual college basketball tournament, a critical period for sports betting.
This month, speculation about North Carolina’s launch date increased when the Commission set January 26 as the deadline for operators to submit their proposed internal controls. Those wishing to operate in North Carolina must receive approval for their internal controls.
The North Carolina State Lottery Commission is currently overseeing the licensing process. Chair Ripley Rand had previously stated that the launch date would mainly hinge on the duration of the license application process.
The licensing process began in December, when the Commission approved applications for sports betting licensure. This allowed online sports betting operators and associated entities to begin applying for licenses.
The Commission has 60 days to approve license applications, while hopeful operators have ten days to make any suggested changes.
Roy Cooper, the governor of North Carolina, signed sports betting into law on June 14 last year. House Bill 347 was voted through the state senate on June 1 and the state house a week later. First introduced in March, it was presented in its final form to Governor Cooper on June 9.
Stipulations included allowing bets on college sports, esports, and other sports matches authorized by the Commission. Tax will be set at 18% of each license holder’s gross gaming revenue.
Which Betting Sites Will Launch in North Carolina?
In total, nine operators have submitted applications for sports betting licenses in North Carolina.
Operators seeking approval to run sports betting in the state must partner with a sports team, league, or venue within North Carolina. Among those seeking a license is BetMGM, which has struck a market access agreement with Charlotte Motor Speedway, a complex that regularly hosts the stock car racing series Nascar.
DraftKings is also preparing to launch in the state, partnering with Nascar. The deal makes DraftKings the exclusive daily fantasy sports partner of Nascar in the US and Canada.
