Operators seeking a sports betting license in North Carolina are required to submit their proposed controls by a specific deadline to ensure readiness for the market’s opening day, according to the North Carolina State Lottery.
This directive was established during a Commission meeting held on January 10th.
During the same session, the Commission also endorsed procedures and guidance documents for applicants to submit their internal controls for approval.
Before offering bets in North Carolina, every licensed operator must obtain approval for their internal controls. However, there is still uncertainty surrounding the actual launch date for legal sports betting in the state, although it is anticipated to occur in March 2024. Commission Chair Ripley Rand has stated that the timing of the launch depends on the duration of the license application process.
The Commission’s responsibilities include reviewing all applications and supporting materials, conducting background checks, and scrutinizing internal control details before establishing a launch date.
Currently, the Commission is in the process of evaluating applications from nine potential operators. The application process commenced in December after Governor Roy Cooper signed House Bill 347 into law in June.
Furthermore, North Carolina has not finalized its sports betting rules.
While some provisions were outlined in the bill passed last year, including authorization for betting on college sports, esports, and other sports matches approved by the Commission, the exact regulations are pending.
The tax rate for license holders will be set at 18% of their gross gaming revenue.
Operators will also be required to have a written designation agreement with a sports team, league, or venue before launching sports betting operations.
Among the operators seeking a license is BetMGM, which has secured market access through an agreement with the Charlotte Motor Speedway, a prominent racing venue located in Concord, North Carolina.
DraftKings is also gearing up for launch and has partnered with Nascar, making it the exclusive daily fantasy sports partner of Nascar in the US and Canada, in addition to becoming an authorized gaming operator of Nascar.
Fanatics Betting and Gaming has initiated its market entry process by establishing a long-term partnership with the NHL’s Carolina Hurricanes, making Fanatics the team’s Official Sports Betting Partner.
This partnership grants Fanatics Sportsbook access to the North Carolina mobile sports betting market and the possibility of opening a retail sportsbook at PNC Arena.
In other developments, the Commission has approved two independent test laboratories, Gaming Laboratories International (GLI) and BMM Testlabs, to work with companies in North Carolina.
These laboratories will evaluate gaming equipment, software, and processes for compliance with state law and Commission regulations.
The Commission is also accepting submissions from other entities interested in serving as independent testing laboratories.