DraftKings and BetMGM form sports betting partnership in North Carolina
DraftKings and BetMGM announce a sports betting partnership to expand into the North Carolina market.
DraftKings said Friday that the sports betting operator has partnered with NASCAR. BetMGM later confirmed its partnership with Charlotte Motor Speedway.
North Carolina’s 2023 sports betting bill has been signed by the governor. Roy Cooper (D) requires online sportsbooks to partner with one of six professional sports venues or venues including U.S. Bank Stadium, Spectrum Center, WakeMed Park, PNC Arena, Quail Hollow Golf Club and Sedgefield Country Club. The law also regulates sports betting eligibility for the PGA Tour and NASCAR.
The North Carolina Lottery Commission handles licensing of sports betting and will regulate future operations. The state lottery agency is asking interested sports bettors to submit applications by Dec. 27. Lottery officials said the bidding window has received seven applications.
In addition to DraftKings and BetMGM, applicants include FanDuel, ESPN Bet, bet365, Fanatics and Underdog Sports. The license costs $1 million and sportsbooks will share 18 percent of their gross revenue with the state.
Partnership Revealed
DraftKings is leveraging its long-standing relationship with NASCAR to operate retail and online sportsbooks in North Carolina. DraftKings expects to launch its 26th sportsbook in Vermont on Jan. 11. The company hopes North Carolina will become its 28th sports betting state later this year.
DraftKings and NASCAR have worked closely together for years to improve the fan experience. We look forward to the next chapter of our journey together, bringing our leading mobile sports betting product to fans in North Carolina. ” said Matt Kalish, President of DraftKings North America.
In announcing its sports betting partnership with North Carolina, DraftKings also announced an expanded sponsorship with NASCAR. Effective immediately, DraftKings becomes the exclusive daily fantasy sports partner of Racing Circuit.
BetMGM is betting on North Carolina via Charlotte Motor Speedway. The track, located about 13 miles outside Charlotte in Concord, hosts two NASCAR races each year, including the famous Coca-Cola 600 on Memorial Day and the Bank of America Roval 400.
"We eagerly await the arrival of legal, safe and regulated online sports betting in North Carolina, a state with more than 10 million residents and one of the most dynamic sports environments in the country," said Adam Greenblatt, CEO of BetMGM. "BetMGM This partnership with Charlotte Motor Speedway addresses North Carolinians’ strong need for entertainment.”
Initial Seven
State gaming regulators are conducting background checks on the seven sportsbooks that initially submitted applications. North Carolina sports betting law requires betting to begin by June 15 of this year. Cooper hopes to open the market in time for the NCAA March Madness basketball tournament.
FanDuel is a partner of Sedgefield and the PGA Tour. ESPN Bet partners with Quail Hollow, home of the Wells Fargo Championship. Fanatics' application was submitted to PNC Arena and bet365 to Spectrum Center. Underdog Sports has yet to announce a partnership.
Caesars Sportsbook has applied to become a service provider in hopes of launching an online sports betting operator on behalf of the Eastern Band of Cherokee Indians. Caesars already operates two retail tribal sportsbooks at Harrah’s Cherokee and Harrah’s Cherokee Valley River tribal resorts in the western part of the state.
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Source: www.casino.org
