Once the North Carolina Lottery Commission determined that an online sports betting launch in time for the NFL playoffs and Super Bowl wasn’t feasible, attention turned to making sure the basketball-centric Tar Heel State didn’t miss out on March Madness.
Regulators reached that goal Wednesday with the unanimous approval of a sports betting authorization that will allow licensed and approved sportsbook operators to go live at noon ET on March 11, one day before the men’s ACC basketball tournament begins in Washington, D.C.
“The plan approved today means that North Carolinians will be able to place bets on their favorite teams in many of this year’s college basketball conference tournaments, including men’s tournaments in the ACC, Conference USA, the MEAC, and the AAC, as well as throughout the men’s and women’s NCAA tournaments,” said Ripley Rand, chair of the commission. “Bets on sporting events have been made for as long as those events have taken place, but this time they will be legal, they will be done securely and fairly, and they will be made under rules designed to encourage responsible gaming.”
North Carolina had, by law, until June 15 to get wagering going, but Gov. Roy Cooper said late last year that he wanted sports betting, which became legal on Jan. 8, to be live in time for college basketball’s premier events.
The Spectrum Center in Charlotte is one of the host sites for the NCAA tournament’s first- and second-round games from March 21 to March 23.
While the commission never publicly stated an intent to start online sports betting in March until Wednesday, Rand hinted at the urgency of the timeline.
“To have the number of meetings that we’ve had and to have the concentrated effort to get this up and running is obviously very different than the way the commission typically operates,” Rand said.
Not launching during football season is one thing. Passing up on tax revenue in March would’ve especially compounded the football losses.
Part of the process
North Carolina’s intention to begin online sportsbook registrations and account depositing on March 1 and live wagering 10 days later is contingent on operators taking care of business on their ends.
The authorization that was approved Wednesday still means licensed sportsbooks have to complete the compliance code and make sure all their internal controls pass regulations.
This includes a variety of criteria: checking financial handlings (payouts, deposits, wagering disputes, daily reports), passing Geocomply (allowing only those within N.C. borders to log in), showing that self-exclusionary programs work, following responsible gambling guidelines, meeting advertisement requirements, offering the correct terms and conditions, and privacy policies.
“This establishes the framework for a responsible gaming program in North Carolina,” commissioner and sports betting committee chair Cari Boyce said. “Now it is up to the applicants to finish the job in order to go live on March 11.”
Work to be done
No sportsbook has received a license to partake in online North Carolina sports betting nor have certifications of compliance been given.
Applicants have until Jan. 26 to submit internal controls for the commission to review.
North Carolina has a pretty good idea of the initial group of sportsbooks that can offer wagering on the go-live date. FanDuel, DraftKings, BetMGM, bet365, Fanatics Sportsbook, ESPN BET, and Underdog have all applied and partnered with a venue, pro sports team, or league to ensure market access.
Underdog Sports, a daily fantasy site that’s launching a full sportsbook in 2024, was the last of that group to partner, announcing a deal Tuesday with McConnell Golf, which operates Sedgefield Country Club, home of the PGA Tour’s Wyndham Championship.
Caesars applied through its partnership with the Eastern Band of Cherokee Indians, which operates two land-based casinos in the Tar Heel State.
Catawba Two Kings Casino, the third retail operation in North Carolina, is also seeking an online license.
Underdog Sports has found its dance partner for online sports betting in North Carolina: McConnell Golf, the operator of Sedgefield Country Club.https://t.co/XNs5FcbW3X pic.twitter.com/r2JCKdzw8r
— Geoff Zochodne (@GeoffZochodne) January 23, 2024
Other wagering to follow
Retail sportsbooks will not launch on March 11, the commission confirmed Wednesday. Go-live dates for brick-and-mortar shops will be on a case-by-case basis as operators meet standard requirements. Many land-based openings could follow a different timeline because of when the sports venues linked to the sportsbooks are in operation.
The commission said advanced deposit wagering and horse racing wagering will come at a later date. The commission has yet to complete rules and regulations for pari-mutuel wagering.
