DraftKings and BetMGM Unveil Proposals for North Carolina Sports Betting

Posted on: January 5, 2024, 12:59h. 

Last updated on: January 5, 2024, 12:59h.

DraftKings and BetMGM have announced their sports betting alliances in their push to enter the North Carolina market.

DraftKings NASCAR North Carolina sports betting
Bubba Wallace’s No. 23 car is seen decked out in DraftKings wrap. DraftKings is leveraging its longstanding partnership with NASCAR to seek entry into North Carolina’s forthcoming sports betting industry. (Image: Getty)

DraftKings responded to Casino.org’s query, reporting their partnership with NASCAR. BetMGM later affirmed their collaboration with the Charlotte Motor Speedway.

As per the 2023 sports betting law instated by Gov. Roy Cooper (D), online sportsbooks must team up with any of six major sports stadiums or venues in North Carolina. The law also extends the qualifications to the PGA Tour and NASCAR for sports betting.

The North Carolina State Lottery Commission will handle licensing and governing of sports betting operations. The Commission received seven applications as interested sportsbooks submitted applications by Dec. 27.

In addition to DraftKings and BetMGM, the applicants include FanDuel, ESPN Bet, bet365, Fanatics, and Underdog Sports. A $1 million license will need to be procured where sportsbooks will share 18% of their gross revenue with the state.

Partnerships Unveiled

With its long-standing rapport with NASCAR, DraftKings aims at running both a retail and online sportsbook in North Carolina. DraftKings is poised to open its 26th sportsbook in Vermont on Jan. 11, hoping that North Carolina becomes their 28th sports betting state this year.

DraftKings and NASCAR have collaborated closely over the years, sharing a like-minded commitment to enhancing the fan experience. We are looking forward to forging a new bond and offering our premier mobile sportsbook to North Carolinians,” said Matt Kalish, president of DraftKings North America to Casino.org.

Concurrently with the North Carolina sportsbook agreement, DraftKings publicized its renewed alliance with NASCAR. Effective immediately, DraftKings becomes the exclusive partner for daily fantasy sports within the stock car racing circuit.

BetMGM is backing North Carolina with the Charlotte Motor Speedway. The track, situated about 13 miles outside of Charlotte in Concord, is the site of two annual NASCAR races, including the renowned Coca-Cola 600 and the Bank of America Roval 400.

”We have been eagerly awaiting legal, safe, regulated online sports betting in North Carolina, a state with more than 10 million people and one of the most vibrant sports environments in the country,” said BetMGM CEO Adam Greenblatt. “BetMGM’s partnership with Charlotte Motor Speedway meets a great demand for entertainment from North Carolinians.”

Initial Seven

State gaming regulators are conducting background checks of the first seven sportsbook firms that filed applications. Per North Carolina’s sports betting law, betting activity should start by June 15, Cooper is hopeful to have the market open in time for the NCAA’s March Madness basketball tournament.

FanDuel is associated with Sedgefield and the PGA Tour. ESPN Bet is in partnership with Quail Hollow, where the Wells Fargo Championship is held. Fanatics’ application was made with PNC Arena, and bet365 with Spectrum Center. Altough Underdog Sports hasn’t announced a partnership yet.

In anticipation of a North Carolina presence, Caesars Sportsbook has applied as a service provider, with plans to set up an online sportsbook on behalf of the Eastern Band of Cherokee Indians. Caesars already runs two retail tribal sportsbooks at the tribe’s Harrah’s Cherokee and Harrah’s Cherokee Valley River resorts in the western region of the state.

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