North Carolina sports betting rules ban stadium sports betting partnerships
The North Carolina Lottery Commission this week unveiled proposed rules to regulate sports betting in the Tar Heel State.
North Carolina lawmakers earlier this year approved in-person sports betting at professional stadiums and online. Since there are no commercial casinos in North Carolina, regulatory authority for expanded gaming rests with the Lottery Commission.
Lottery officials consulted with experts in the field of sports betting to determine best regulatory practices. The commission unveiled the proposed sports betting rules Tuesday during a public hearing on the guidelines scheduled for Nov. 20 at the state Lottery Commission headquarters in Raleigh.
Proposed rules include allowing people to place bets of up to $10,000 anonymously and in person. For bets or withdrawals over $10,000, bettors must provide their name, date of birth, address and Social Security number.
All sports betting advertisements must include a statement that betting is restricted to persons 21 years of age or older. Sports betting providers are also prohibited from entering into marketing agreements with colleges and universities. Additionally, they are prohibited from advertising on media or social platforms where “at least 25% of the target audience can reasonably be expected to be minors.”
Sports betting messages also cannot contain terms such as "risk-free" or "free" bets.
Stadium Sportsbook
North Carolina’s sports betting law authorizes four professional sports venues to offer on-site sports betting. These include U.S. Bank Stadium, home of the NFL's Carolina Panthers, Spectrum Center, home of the NBA's Charlotte Hornets, PNC Arena, home of the NHL's Carolina Hurricanes, and WakeMed Park, home of the NWSL's North Carolina Courage.
Lawmakers also allowed Charlotte Motor Speedway, which hosts two NASCAR races each year, and Sedgefield Country Club and Quail Valley Club, which host two annual PGA Tour events, to host "pop-up" events during the event. Retail sports betting.
Under the Lottery Commission's proposed rules, companies such as DraftKings and BetMGM would be barred from being major sponsors of the aforementioned sports stadiums and venues.
No operator shall enter into an agreement or acquire the rights to designate a sports facility or track or any physical location within a sports facility or track, including but not limited to seating, luxury boxes, parking spaces, concourses, tracks, fields, courts , golf holes, locker rooms, benches, concession stands, etc.,” reads Proposed Rule 1H-002 Facility Naming Rights.
If the rules stand, Bank of America won't have to worry about being outbid by the likes of FanDuel or ESPN Bet for naming rights to the NFL's home field of the Charlotte Panthers.
The clock is ticking
North Carolina sports betting law requires operations to begin sometime between January 8, 2024, and June 15, 2024. In addition to the public hearing later this month at Lottery Commission headquarters, the public can submit comments on the proposed rules any time before November 27 through this link .
In addition to live sports betting, each stadium can also partner with online sports betting. The law originally allowed up to twelve online sportsbooks, but changes to the law tied to the state budget proposal reduced the number of online licenses to five.
There is a one-time fee of $1 million per sports betting license. The operator will share 18% of total revenue with the state.
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Source: www.casino.org
