Seven Betting Firms File Applications for North Carolina License

Ahead of the launch of legal sports betting in North Carolina, which may happen in the summer, several leading operators submitted their applications for a license. To offer services in the state and offer mobile and retail sports betting services, operators need to apply for a license with the gambling regulator, the North Carolina State Lottery Commission. The recommended deadline for submission of the licenses was December 27, 2023.

With the passing of the deadline, the Commission unveiled details regarding the operators that showed interest in securing a license. It’s no surprise that the US gaming and betting leaders, FanDuel and DraftKings were among the seven operators that submitted an application for a license in North Carolina.

Further applicants include BetMGM, Fanatics Betting and Gaming and bet365. Recently launched betting operator that represents a collaboration between PENN Entertainment and ESPN, ESPN Bet is on the list of companies that submitted an application for a license, along with Underdog Sports, a fast-growing daily fantasy sports operator.

After legalizing sports betting, lawmakers in North Carolina set June 15, 2024, as the date planned for the launch of the market. Still, in a recent interview on the Ovies + Giglio Show, Gov. Roy Cooper, confirmed plans to launch legal sports wagering just in time for March Madness. Giving no guarantees, the Governor explained that lawmakers will try to meet this deadline.

Previously, the North Carolina State Lottery Commission confirmed that it won’t be able to roll out sports betting in time for the Super Bowl scheduled for February. However, per Gov. Cooper’s plan, bettors and sports fans may be able to enjoy legal wagering ahead of the planned date in June.

Betting Operators Need to Comply with a List of Rules

Similar to other sports betting markets across the US, there are specific rules for operators in North Carolina. To be eligible for license submission, betting operators need to join forces with a retail venue such as NASCAR Track or PGA Tour course, or a sports franchise.

While betting operators can submit an application for mobile and retail sports wagering, they can only accept in-person wagers at the venue or stadium of the organizations they joined forces with. Per the established rules, North Carolina betting operators would be subject to an 18% tax on gross revenue and they must also pay a license fee of $1 million.

Three of the applicants in the state have not disclosed details regarding their North Carolina partner. On the other hand, FanDuel previously confirmed its partnership with the PGA Tour, while bet365 forged an agreement with the Charlotte Hornets. ESPN Bet established a collaboration with the Quail Hollow Club, while Fanatics Betting and Gaming teamed up with the Carolina Hurricanes.

Considering that the seven operators submitted their applications within the recommended deadline set by the Commission, they will be able to roll out their services from the first day of legal sports wagering. In contrast, operators that submit a license application after this period may also secure a license but may not launch from the first day.