Seven Betting Companies Apply for License to Operate in North Carolina

Several leading operators have submitted their applications for a license ahead of the launch of legal sports betting in North Carolina. The North Carolina State Lottery Commission set a deadline of December 27, 2023 for the submission of licenses to offer mobile and retail sports betting services in the state.

Among the seven operators that submitted an application for a license in North Carolina are industry leaders such as FanDuel and DraftKings. Other applicants include BetMGM, Fanatics Betting and Gaming, bet365, ESPN Bet, and Underdog Sports.

Although lawmakers initially set June 15, 2024 as the launch date for the sports betting market, Governor Roy Cooper stated in a recent interview that legal sports wagering may be available in time for March Madness. The Governor expressed that efforts will be made to meet this earlier deadline, providing bettors and sports fans with the opportunity to enjoy legal wagering ahead of the planned June launch.

Betting operators in North Carolina need to comply with specific rules in order to be eligible for a license submission. They are required to join forces with a retail venue, such as a NASCAR Track, PGA Tour course, or a sports franchise.

Operators can submit applications for both mobile and retail sports wagering, but they can only accept in-person wagers at the venue or stadium of the organizations they have partnered with. Additionally, they will be subject to an 18% tax on gross revenue and must pay a license fee of $1 million.

Several of the applicants have already divulged their North Carolina partners. FanDuel has partnered with the PGA Tour, bet365 with the Charlotte Hornets, ESPN Bet with the Quail Hollow Club, and Fanatics Betting and Gaming with the Carolina Hurricanes.

The seven operators that submitted their applications within the Commission’s recommended deadline will be able to roll out their services from the first day of legal sports wagering. Those who submit a license application after this period may still secure a license but may not be able to launch their services from the first day.