DraftKings and BetMGM Announce North Carolina Partnerships
LISTEN TO THIS ARTICLE:Although it seems unlikely to happen before the Super Bowl, there is growing optimism that online sports betting will launch in North Carolina before March Madness begins.
DraftKings and BetMGM, two leading online sportsbooks, have recently signed deals that will enable them to operate in the state when the market launches.
BetMGM's Partners with Charlotte Motor Speedway
BetMGM announced a partnership with Charlotte Motor Speedway, a key venue for motorsports and entertainment. This collaboration will launch BetMGM’s online sports betting platform in North Carolina when it becomes legally allowable.
Greg Walter, the Executive Vice President and General Manager of Charlotte Motor Speedway, conveyed his excitement about the partnership, highlighting its potential to enhance sports fans' experiences, boost state tax revenue, support educational institutions, and draw major events.
Adam Greenblatt, CEO of BetMGM, also welcomed the deal saying:
BetMGM’s partnership with Charlotte Motor Speedway meets a great demand for entertainment from North Carolinians. Together we will deliver a premier and responsible gaming product that benefits many state agencies.
Related: BetMGM Set to Be the Title Sponsor of Premier League Darts in 2024
DraftKings Teams Up with NASCAR
In a parallel move, DraftKings announced its collaboration with NASCAR. This agreement, which includes a written designation agreement, is a crucial step for DraftKings' launch in North Carolina.
Matt Kalish, President of DraftKings North America, emphasized the joint efforts of DraftKings and NASCAR in enhancing fan experiences and expressed his eagerness to offer their leading mobile sportsbook to the state's enthusiasts. DraftKings Sportsbook, upon its launch in North Carolina, will mark the company’s expansion into its 27th state, coinciding with their Vermont debut on January 11.
Seven Operators Apply for Licenses
The 2024 meeting of the North Carolina Sports Betting Committee revised the timeline for sports betting to go live after the Super Bowl. The state now has until June 14 to make the necessary preparations, aiming to introduce online sports betting in time for March Madness.
Seven operators, including BetMGM, DraftKings, ESPN BET, Fanatics, and FanDuel, are vying for licenses in North Carolina. Despite the complexities of regulatory compliance, industry experts stress the need for all operators to fully understand and comply with state regulations.
In addition, FanDuel and the PGA Tour are planning a collaboration in North Carolina's burgeoning sports betting market, furthering their existing partnership and aligning with the state's strategy to attract a mix of established and emerging betting operators.
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