ESPN Bet partners with Quail Hollow Club to launch sports betting in North Carolina
ESPN Bet and Charlotte’s Quail Hollow Club are partnering on sports betting.
Just days after the North Carolina Education Lottery Commission opened the sports betting application period, Penn Entertainment’s new sports betting brand ESPN Bet has inked a sports betting agreement with Quail Hollow.
This private golf club is a stop on the annual PGA Tour and Wells Fargo Championship. The 2017 PGA Championship and last year's Presidents Cup were also held on traditional tracks.
We are excited to partner with Quail Hollow Club and Wells Fargo Championship as we prepare to bring our new online sports betting brand, ESPN BET, to North Carolina. ” said Benjie Levy, President and COO of Penn Interactive. “In addition to market access, we are excited to sponsor the popular Wells Fargo Championship and work with our new partners to create unique fan events. "
Quail Hollow Club President Johnny Harris added: “We welcome the upcoming launch of regulated online sports betting in North Carolina and are excited to partner with Penn Entertainment, a leading gaming and entertainment provider.”
ESPN Bet is the University of Pennsylvania's Barstool Sportsbook, and the casino operator has agreed to pay ESPN $1.5 billion over the next 10 years to use the sports media brand in its sports betting operations. The sports betting service launched online in 17 states on Nov. 14.
Upcoming Sports Betting Markets
Since North Carolina has no commercial casinos, state lawmakers took an atypical approach by requiring online sports betting platforms to partner with professional sports venues to qualify to enter the market. In order for an interactive sportsbook to qualify for licensing review by the Lottery Commission, a company like ESPN Bet must partner with one of the following eight venues. Each venue can only work with Single Online Sportsbook.
Qualified Sports Betting Venue – Anchor Tenant
- U.S. Bank Stadium - NFL Carolina Panthers
- Spectrum Center – NBA Charlotte Hornets
- PNC Arena – NHL Carolina Hurricanes
- WakeMed Park – NWSL North Carolina Courage
- Charlotte Motor Speedway – NASCAR
- North Wilkesboro Speedway-NASCAR
- Sedgefield Country Club - PGA Tour
- Quail Hollow Club – PGA Tour
U.S. Bank Stadium, Spectrum Center, PNC Arena and WakeMed Park are permitted to offer retail sports betting year-round, while sportsbooks at Charlotte Motor Speedway and two PGA Tour golf courses only offer in-person sports betting for annual events. However, your online sportsbook can accept bets year-round.
In addition to the eight venues, the PGA Tour and NASCAR could each partner with a sportsbook.
application time
The North Carolina Education Lottery Commission is accepting sports betting applications through Dec. 27. The proposal from ESPN Bet and Quail Hollow follows Spectrum Center's announcement of a similar partnership with bet365 earlier this month.
Each sports betting license is priced at $1 million and can be renewed every five years at the same price. Sports betting will share 18% of its total revenue with the state.
Until online sports betting can begin operating, which state law requires no later than June 15, 2024, North Carolina residents who want to bet on legal sports betting in the state must go to one of the tribal casinos that already have live sports betting. Residency from 2021.
Tribal sports betting is available at Harrah’s Cherokee in Murphy, Harrah’s Cherokee Valley River and Catawba Two Kings Casino in Kings Mountain.
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Source: www.casino.org
