The state of North Carolina is getting ready to welcome mobile sports betting on March 11, 2024. Several sports betting companies have already started to advertise their services and attract potential customers. The North Carolina Lottery Commission has received applications from seven operators, but has not yet announced which ones will be granted licenses.
Mobile Sports Betting Coming Soon to North Carolina
North Carolina legalized mobile sports betting in July 2023, allowing up to 12 operators to offer online wagering in partnership with sports teams or venues in the state. The North Carolina Lottery Commission is responsible for regulating and overseeing the industry, and has set a launch date of March 11, 2024, just in time for March Madness, the popular college basketball tournament.
According to the commission, bettors will be able to create accounts and deposit money starting from March 1, 2024, but will not be able to place bets until March 11, 2024. The commission has also published rules for advertising, which prohibit operators from targeting people under the age of 21 or promoting irresponsible gambling behavior.
Sports Betting Companies Begin Outreach Campaigns
As the launch date approaches, several sports betting companies have begun to market their products and services to North Carolina residents. Industry leaders FanDuel and DraftKings placed digital ads announcing their presence in North Carolina over the weekend, and DraftKings will begin television advertising this week. Fanatics Betting and Gaming, which has partnered with the NHL’s Carolina Hurricanes, also launched a social media campaign featuring the team’s mascot.
The other operators that have applied for licenses are bet365, BetMGM, ESPN Bet, and Underdog Sports. Bet365 has partnered with the NBA’s Charlotte Hornets, while ESPN Bet has partnered with Quail Hollow Club, a golf course that hosts PGA Tour events. BetMGM, Underdog Sports, and FanDuel have not yet revealed their sports partners, but are expected to do so soon.
North Carolina Sports Betting Market Expected to Be Competitive
North Carolina is the 10th most populous state in the US, with an estimated population of 10.7 million people. It is also home to several professional and college sports teams, as well as a large fan base. These factors make North Carolina an attractive market for sports betting operators, who will compete for customers and market share.
According to a study by Eilers & Krejcik Gaming, a research firm, North Carolina could generate up to $367 million in annual revenue from mobile sports betting by 2026, assuming a tax rate of 8% and a competitive market with 10 operators. The state will receive 8% of the gross gaming revenue from mobile sports betting, which will be used for education and other public purposes.
However, North Carolina will also face some challenges and competition from neighboring states. Virginia and Tennessee already have legal mobile sports betting, while South Carolina and Georgia are considering bills to legalize it. Additionally, North Carolina has two tribal casinos that offer retail sports betting through Caesars, but are not subject to the state’s regulations or taxes.
North Carolina Sports Betting Fans Await March 11
With less than two months to go until the launch of mobile sports betting in North Carolina, sports fans and bettors are eagerly awaiting the opportunity to wager on their favorite teams and events. The state will offer a variety of sports and markets, including professional and college sports, as well as niche sports like NASCAR and golf.
North Carolina will join more than 30 states that have legalized some form of sports betting since the US Supreme Court struck down a federal ban in 2018. The US sports betting market is expected to grow to $8.5 billion in revenue by 2026, according to Eilers & Krejcik Gaming.
