bet365 and Charlotte Hornets Partner for NC’s First Betting Deal

Listen to this news articleLISTEN TO THIS ARTICLE:

Online gambling giant bet365 and NBA team Charlotte Hornets have signed a partnership deal, the first ever in the state of North Carolina.

Through the agreement, bet365 fulfills an essential licensing requirement in the state, which mandates operators to partner with a professional team. Thus, bet365 is better positioned to access the North Carolina sports betting market when it launches in early 2024.

The deal will also see bet365 branding integrated into Charlotte Hornets’ digital assets and featured at its home ground, Spectrum Center.

We are excited to announce this partnership with bet365. Since the day Governor Cooper signed sports wagering into law at Spectrum Center in June, we sought a partner that would help us provide our fans with new, additional opportunities to engage with their favorite sports teams. We are confident that bet365 is a great fit with our organization and can help us do that.

Jacob GallagherHornets Sports & Entertainment Chief Revenue Officer

Strategic Expansion into the Emerging North Carolina Market

With the development, bet365 has now secured partnerships with five major league teams, including Cleveland Guardians, Colorado Rockies, San Antonio Spurs, and Washington Commanders. Since Texas doesn’t offer a legalized sports betting market, bet365’s agreement with Spurs only covers offering a free-to-play game to its fans.

In June 2023, Governor Roy Cooper signed House Bill 347 into law, which legalizes sports betting in North Carolina.

On October 17, the North Carolina Sports Betting Committee approved its initial comprehensive set of gambling regulations. The 48-rule list will apply to any company seeking a license for ADW, sports betting, service, or supply in the jurisdiction.

The state also announced its plans to open eight brick-and-mortar locations and twelve online sportsbooks by June 2024. Several leading operators have already shown interest in the state and are expected to sign more deals with the teams in the state as the betting market launch date draws closer.