Two more partnerships that will provide access for online sports betting operators in North Carolina were publicized on Friday morning. This brings the total number of such deals made known to the public up to six so far.
Global gaming giant DraftKings revealed an agreement with NASCAR, the governing body for stock car racing in North America. Meanwhile, BetMGM North Carolina, a joint venture between casino operator MGM Resorts International and European gaming company Entain, inked an arrangement with Charlotte Motor Speedway. The iconic Charlotte track hosts two major NASCAR Cup Series events each year – the Coca-Cola 600 in May and the Bank of America ROVAL 400 in October.
Both partnerships are contingent on DraftKings and BetMGM receiving sports betting license approvals from the North Carolina State Lottery Commission. The two companies were among seven total applicants that submitted completed license applications to the Commission by the recommended deadline of December 27.
Green Flag Date Still Undetermined
Operators that filed by that date may be approved in time to commence online sports betting operations on the launch date for North Carolina sports betting, whenever that may be. While an exact “green flag” date has not yet been set, lottery officials did release guidelines on Thursday that will dictate requirements for sportsbook operators to meet before taking the first online wagers.
So while North Carolina residents eagerly await the start of legal sports betting in their state, the gears continue turning behind the scenes as more prospective operators reveal deals with teams and venues that will give them the required access.
NASCAR Deal Continues DraftKings’ Expansion
Besides granting DraftKings the ability to offer online sports wagering in North Carolina, the NASCAR partnership also makes the Boston-based company the exclusive daily fantasy sports partner of the racing organization across the United States and Canada. DraftKings will also join NASCAR’s list of authorized gaming operators moving forward.
“DraftKings has a proven track record of enhancing the fan experience across sports,” said Joe Solosky, NASCAR’s Managing Director of Sports Betting. “We are thrilled to continue working with DraftKings to deliver NASCAR fans more engagement opportunities and bring its leading mobile sportsbook to North Carolina.”
The deal furthers DraftKings’ expansion in the rapidly growing U.S. sports betting industry. The company already operates mobile sportsbooks in 18 jurisdictions nationally.
BetMGM Deal Brings Sportsbook to Iconic Charlotte Oval
Charlotte Motor Speedway Executive Vice President and General Manager Greg Walter called BetMGM “a signature source for sports betting” that has successfully partnered with other top-tier professional sports leagues.
He went on to explain the legendary racetrack’s desire to stay at the forefront of sports entertainment innovations by collaborating with a prominent sports betting operator.
“With Charlotte Motor Speedway’s history of innovation, we wanted to move forward into this new era of sports entertainment with a progressive sportsbook,” Walter commented. “This partnership with BetMGM will bring sports fans new ways to enjoy their favorite events while expanding North Carolina’s tax base, supporting colleges and facilitating recruitment of major events for the future.”
So through the BetMGM deal, “The Beast of the Southeast” Charlotte Motor Speedway becomes the latest NASCAR venue to welcome legal sports gambling.
Which Teams and Tracks Remain Up for Grabs?
North Carolina legislators passed a bill to legalize online and retail sports betting in July 2021. Then in October, they amended the law to require operators to establish official partnerships with professional sports teams, golf courses, race tracks, or governing bodies.
The amendment mandated that operators lock down deals with at least one of the following:
- A professional sports team based in North Carolina
- A golf course located in North Carolina that hosts a PGA Tour event every year
- The PGA Tour itself
- Charlotte Motor Speedway, North Wilkesboro Speedway, or another NASCAR track in North Carolina
- NASCAR
Some companies vying for one of the limited sports betting licenses blasted this provision. They referred to it as an unnecessary “barrier to entry” since venues and leagues could demand millions of dollars from prospective bookmakers.
But so far at least six operators have decided the revenue potential makes it worthwhile to pony up for an official partnership. Previous arrangements became public between:
- bet365 and the NBA’s Charlotte Hornets
- FanDuel and the PGA Tour
- Fanatics and the NFL’s Carolina Panthers
- ESPN’s new sportsbook and Quail Hollow Club, home of the annual Wells Fargo Championship golf tournament
The lone remaining applicant that has not yet named its partner is Underdog Sports. Caesars also submitted a license application but already secured market access through a existing agreement with the Eastern Band of Cherokee Indians tribal casino in western North Carolina.
As for other teams, tracks, and tournament sites that could still grant official access, these include:
- The Carolina Panthers
- Charlotte FC of Major League Soccer
- The National Women’s Soccer League’s North Carolina Courage club
- North Wilkesboro Speedway
- Sedgefield Country Club in Greensboro, which hosts the PGA’s Wyndham Championship each summer
Billionaire David Tepper owns both the Panthers NFL team and Charlotte’s first-year MLS franchise. Meanwhile, Speedway Motorsports owns Charlotte Motor Speedway along with North Wilkesboro Speedway.
The North Carolina Lottery will continue reviewing sports betting license applications submitted by operators beyond the initial December 27 recommendation date. However, no guarantees exist that late applicants will gain approval before the state’s online sportsbooks launch.
So stay tuned as more sports betting partnerships get cemented in the Tar Heel State. It likely won’t be too much longer before North Carolina residents can finally place their first legal wagers!
