Date: January 11, 2024, 10:09h.
Last Updated on: January 11, 2024, 10:09h.
Fanatics Sportsbook and the NHL North Carolina Hurricanes recently released details of their collaboration and their interest in acquiring a sports betting license in North Carolina. The state law mandates that sportsbook applicants must apply in conjunction with one of the state’s professional sports venues or leagues. Fanatics Sportsbook has formed a partnership with PNC Arena, the home venue of the Hurricanes.
The North Carolina State Lottery Commission is currently reviewing seven sports betting applications, including those from DraftKings, FanDuel, BetMGM, ESPN Bet, bet365, and a seventh applicant, Underdog Sports, which hasn’t yet revealed its partnership. The law requires licensed sportsbooks to commence operations by June 15, 2024. However, the state officials hope to expedite the review process before the March Madness NCAA basketball tournament.
North Carolina is arguably the most college basketball-obsessed state in the nation, with two of its programs, the North Carolina Tar Heels and Duke Blue Devils, holding top positions in the NCAA rankings.
Fanatics Sportsbook is the sports betting arm of the American sportswear manufacturer and online retailer, Fanatics. The company offers licensed Duke and North Carolina apparel under university licensing agreements. In North Carolina, Fanatics plans to operate an online book and a retail sportsbook at PNC Arena, offering hockey fans and Hurricanes supporters numerous interactive opportunities.
Growing Market Presence
After purchasing PointsBet for $225 million in cash, Fanatics CEO Michael Rubin expressed aspirations to become the “Amazon of the sports world.” Operating in 10 states, the company is dedicated to expanding its sportsbook offerings and boosting its presence in the industry.