North Carolina gambling regulator launches online sports betting
After months of waiting, North Carolina sports bettors have been told when online sportsbooks will begin accepting internet wagers.
During Wednesday's meeting of the North Carolina Lottery Commission, nine commissioners agreed to allow online sports betting to begin operating at 12:00 p.m. ET on Monday, March 11. The Lottery Commission, which reviews sports betting applications and oversees their operations, said it expected eight releases that day.
Online sportsbooks to be determined include DraftKings, FanDuel, BetMGM, ESPN Bet, Caesars Sportsbook, Fanatics Sportsbook, bet365 and Underdog Sports.
North Carolina lawmakers last year approved commercial sports betting at professional stadiums and venues and online. Gov. Roy Cooper (D) signed the law in June. The law also provides a framework for the state's two tribes to seek online sports betting licenses.
March 11 marks the eve of the NCAA’s March Madness men’s college basketball tournament. The law signed by Cooper requires online sportsbooks to be operational by June 15, 2024. But Cooper urged lottery commissioners to expedite the rulemaking process and application review to get online reservations up and running in time for the men's college basketball playoffs.
Approved sportsbooks will begin registering players on March 1, but will not accept bets until March 11.
Sports Betting Ready to Take Off
Commercial sports betting in the Tar Heel State comes three years after retail gaming began at the state's three tribal casinos - Harrah's Cherokee, Harrah's Cherokee Valley River and Two Kings. Tribal sportsbooks began accepting bets in person in March 2021 after the state revised its Class III gaming contracts with the Eastern Band of Cherokee Indians and the Catawba Indian Nation.
The debut of online sports betting and sports venue retail books will significantly expand sports betting in North Carolina.
The Sports Betting Alliance, a trade group comprised of four upcoming sports betting operators in North Carolina including BetMGM, DraftKings, FanDuel and Fanatics, released a statement celebrating the upcoming launch of sports betting in the state.
This is an important day for North Carolina sports fans," said League Vice President Scott Ward."Today marks a milestone for North Carolina legislators, education and community stakeholders, and fans for many years. This is the culmination of hard work and we would like to express our sincere gratitude to all of them for their tireless efforts. "
The state would reap the financial benefits of allowing sports betting because each sports betting license costs $1 million every five years. The state also collects 18 percent of each book's gross revenue. Thirteen colleges and universities receive $300,000 annually from sports betting taxes.
Underdog Confirmed Partner
Underdog Sports, a sports betting upstart that must overcome huge odds to win market share against North Carolina's larger players, has confirmed a venue partner to qualify for its sports betting application.
The company announced this week a partnership with McConnell Golf, which operates Sedgefield Country Club in Greensboro. Since Sedgefield hosts the PGA Tour event every year, this professional golf venue qualifies for sports betting privileges.
North Carolina Sports Betting Partners
- Bet365 – Spectrum Center/NBA Charlotte Hornets BetMGM-Charlotte Motor Speedway Caesar – Harrah’s DraftKings – NASCAR ESPN Betting – Quail Hollow Club
- Fanatics – PNC Arena/NHL Carolina Hurricanes FanDuel – PGA Tour
- Disadvantaged Sports – Sedgefield Country Club
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Source: www.casino.org
