DraftKings and BetMGM have revealed their sports betting partnerships in their pursuit of gaining market entry in North Carolina.
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 told Casino.org on Friday that the sportsbook has partnered with NASCAR. BetMGM later confirmed its partnership with the Charlotte Motor Speedway.
North Carolina’s 2023 sports betting bill signed into law by Gov. Roy Cooper (D) requires online sportsbooks to partner with one of six professional sports stadiums or venues, including Bank of America Stadium, Spectrum Center, WakeMed Park, PNC Arena, Quail Hollow Golf Club, and Sedgefield Country Club. The law additionally qualified the PGA Tour and NASCAR for sportsbooks.
The North Carolina State Lottery Commission is handling the sports betting licensing and will govern their forthcoming operations. The state lottery agency told interested sportsbooks to submit applications by December 27. The bidding window closed with seven applications, lottery officials said.
Along with DraftKings and BetMGM, the applicants included FanDuel, ESPN Bet, bet365, Fanatics, and Underdog Sports. Licenses cost $1 million and sportsbooks will share 18% of their gross proceeds with the state.
DraftKings is using its longstanding relationship with NASCAR in its quest to run a retail and online sportsbook in North Carolina. DraftKings is expected to launch its 26th sportsbook by way of Vermont on January 11. The company hopes North Carolina becomes its 28th sports betting state later this year.
DraftKings and NASCAR have collaborated closely with each other over the years, sharing a like-minded commitment to enhancing the fan experience. We look forward to the next chapter in our journey together and offering our leading mobile sportsbook to fans in the state of North Carolina,” Matt Kalish, president, of DraftKings North America, told Casino.org.
In announcing its North Carolina sportsbook partnership, DraftKings additionally revealed an expanded sponsorship with NASCAR. Effective immediately, DraftKings is the exclusive daily fantasy sports partner of the stock car racing circuit.
BetMGM is betting on North Carolina with Charlotte Motor Speedway. The track, which is about 13 miles outside of Charlotte in Concord, hosts two annual NASCAR races, including the prestigious Coca-Cola 600 on Memorial Day 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.”
State gaming regulators are conducting background probes of the seven initial sportsbook firms that filed applications. North Carolina’s sports betting law requires bets to begin by June 15 of this year. Cooper hopes to have the market open in time for the NCAA’s March Madness basketball tournament.
FanDuel is partnered with Sedgefield and the PGA Tour. ESPN Bet is aligned with Quail Hollow, which hosts the Wells Fargo Championship. Fanatics’ application was made with PNC Arena, and bet365 with Spectrum Center. Underdog Sports hasn’t announced a partnership.
Caesars Sportsbook applied as a service provider in hopes of launching 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 part of the state.
The post DraftKings, BetMGM Reveal Sports Betting Partnerships in North Carolina appeared first on Casino.org.