{"id":305158,"date":"2024-01-01T12:01:34","date_gmt":"2024-01-01T18:01:34","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=305158"},"modified":"2024-01-01T12:14:50","modified_gmt":"2024-01-01T18:14:50","slug":"north-carolina-fields-seven-sportsbook-applications","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/north-carolina-fields-seven-sportsbook-applications\/","title":{"rendered":"North Carolina Gets Seven Sportsbook Applications Ahead of Spring Launch"},"content":{"rendered":"

The North Carolina State Lottery Commission last week unveiled the list of companies that applied to receive retail and online sports betting privileges ahead of the agency’s “recommended submission” deadline of Dec. 27<\/a>.<\/p>\n

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The shorts of a UNC Tar Heel basketball player. North Carolina sports betting will expand in 2024 from the state’s three tribal casinos to online channels and at professional sports stadiums and venues. (Image: Getty)<\/figcaption><\/figure>\n

Sports betting market leaders DraftKings and FanDuel highlight the group of seven that additionally includes BetMGM, ESPN Bet, Fanatics, bet365, and Underdog Sports. State lawmakers and Gov. Roy Cooper (D) legalized commercial sports gambling last June.<\/p>\n

The North Carolina State Lottery Commission, which is tasked with licensing and regulating the state’s newly expanded gaming industry, says it’ll need up to 90 days to review the online sports betting applications and issue licenses.<\/p>\n

The law requires that such betting commence by June 15, 2024. But Cooper wants sportsbooks to begin taking bets in time for March Madness — the 2024 NCAA Division I men’s basketball tournament.<\/strong><\/p>\n

North Carolina is home to arguably the biggest rivalry in college basketball, with the North Carolina Tar Heels and Duke Blue Devils blood enemies. The programs are respectively ranked No. 9 and No. 16 in the AP Top 25 poll. The blueblood programs are near perennial bracket entries.<\/p>\n

Partnerships Align<\/b><\/h2>\n

North Carolina’s sports betting law requires sportsbook companies to partner with a professional sports team<\/a>, venue, or one of two qualifying sports organizations — the PGA Tour and NASCAR.<\/p>\n

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FanDuel is partnered with the PGA Tour<\/a>. Fanatics’ application is in conjunction with the NHL Carolina Hurricanes, while ESPN Bet is aligned with Quail Hollow Club, an annual stop on the PGA Tour that hosts the Wells Fargo Championship. Bet365 is bidding with the NBA Charlotte Hornets.<\/p>\n<\/div>\n

The three remaining applicants did not publicly disclose their professional sports partners. Potential partners include the NFL Carolina Panthers, National Women’s Soccer League’s North Carolina Courage, Charlotte Motor Speedway, and NASCAR.<\/p>\n

If approved, sportsbook firms will be allowed to operate in-person and online sports betting. Their retail facilities will only be permitted at the host stadium or venue of their partnered organization.<\/p>\n

Each sportsbook license costs a one-time $1 million fee. Gross revenue will be subject to an 18% tax. The state will appropriate much of the tax benefit to support collegiate athletics<\/a> at state universities. Thirteen schools will receive up to $300,000 annually from the gaming expansion:<\/p>\n