Deadline Approaching For North Carolina Online Sports Betting Applications
Online sportsbooks looking to launch in North Carolina on the earliest possible date have less than a week to complete their applications. The NC Lottery Commission set the submission date for Dec. 27. As of Dec. 13, the commission confirmed that 14 operators had requested sports betting applications. Only 11 commercial licenses for North Carolina sports betting apps will be granted.
North Carolina Application Requirements Must Be Met By Deadline
North Carolina requires operators who aim to launch in the Tarheel State to partner with a local team or venue. There are 11 potential licenses across all eligible teams and venues. Thus far, four partnerships have been confirmed in North Carolina. Those partnerships are:
- Carolina Hurricanes – Fanatics Sportsbook
- Charlotte Hornets – Bet365
- PGA Tour – FanDuel
- Quail Hollow Club – ESPN BET
Applicants also need to prove they are in good standing in the other markets they are active in. The commission will review applicants’ track records across all their active markets during the application process. Following the Dec. 27 deadline, lawmakers have given themselves a 60-day application review period. This can be extended by 30 days if needed.
How The North Carolina Betting Market Is Shaping Up
North Carolina lawmakers have taken many steps to bring online sportsbooks to residents. While there is still no confirmed launch date, the regulators’ pace brings optimism for a launch in time for March Madness. NC sportsbooks are projected to bring in over $610.7 million in revenue by the second year of activity.
Regulators recently approved the second round of rules. These rules outlined application requirements and confirmed rules regarding affiliate marketing deals.
Applicants looking to enter the market must act fast to launch when the market is live. Fans should expect a major deal between the Carolina Panthers and a commercial operator soon. The Panthers are the biggest sports team in North Carolina and will surely be an attractive gaming partner for any operator.
A launch date could be announced after the review period, which will be in mid-February 2024.