BetMGM, DraftKings share new sports betting alliances in North Carolina

Sports betting in North Carolina: When it starts, what you can bet on

Sports betting giants BetMGM and DraftKings have unveiled their new partnerships to secure market entry in North Carolina.

A Friday report by Casino.org revealed that BetMGM has confirmed its collaboration with the Charlotte Motor Speedway. Meanwhile, DraftKings has partnered with NASCAR.

The partnerships follow a new sports betting bill in North Carolina, signed into law by Gov. Roy Cooper (D). The bill mandates online sportsbooks to partner with one of six professional sports stadiums or venues. These include Bank of America Stadium, Spectrum Center, WakeMed Park, PNC Arena, Quail Hollow Golf Club and Sedgefield Country Club. The PGA Tour and NASCAR are also qualified for sportsbooks under this law.

The North Carolina State Lottery Commission oversees sports betting licensing and subsequent operations. Interested sportsbooks submitted applications by December 27. According to lottery officials, there were seven applications.

Among the applicants, including FanDuel, ESPN Bet, bet365, Fanatics and Underdog Sports, DraftKings and BetMGM seek licences, each costing $1 million. Sportsbooks are obligated to share 18 percent of their gross proceeds with the state.

North Carolina entry

BetMGM, banking on North Carolina, has partnered with Charlotte Motor Speedway, approximately 13 miles outside of Charlotte in Concord. The Speedway 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.”

On the other hand, DraftKings aims to establish a retail and online sportsbook in North Carolina with its enduring partnership with NASCAR.

“DraftKings and NASCAR have collaborated closely with each other over the years, sharing a like-minded commitment to enhancing the fan experience,” Matt Kalish, president of DraftKings North America, said. “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.”

With plans to launch its 26th sportsbook in Vermont on January 11, DraftKings aspires for North Carolina to become its 28th sports betting state this year.