Online Betting Begins in North Carolina Industry

Online Sportsbooks in North Carolina Officially Open

By Amelia Walker Senior Content Writer Updated: 16 March 2024

Amelia Walker Senior Content Writer

Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.

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It has been confirmed that North Carolina has now officially entered the online sports betting arena. The North Carolina State Lottery Commission announced recently that it has granted operational licenses to eight premier sportsbook operators. This marks a new chapter in the state’s gaming sector. Land-based sportsbooks are already found in several venues in the state.

The move comes as a part of the state’s efforts to embrace digital gambling platforms, and it means that North Carolina is now a competitive player in the rapidly growing online sports betting market. The operators given the green light to commence player registrations are Bet365, BetMGM, Caesars Sportsbook, DraftKings, ESPN Bet, Fanatics, FanDuel, and Underdog Sports.

At the start of this month, Ripley Rand, chair of the North Carolina State Lottery Commission, said:

Issuing the first interactive sports wagering operator licenses today represents a major milestone in establishing legal sports betting in North Carolina.

Each of the operators, other than Caesars Sportsbook, has established partnerships with local professional sports teams or venues. Caesars Sportsbook secured its license through a partnership with the Eastern Band of Cherokee Indians, making use of the tribe’s casino operations to meet regulatory requirements.

Online Registrations for Sports Fans Now Underway

From March 1, approved sportsbooks began the process of signing up online bettors, enabling them to set up their wagering accounts and make initial deposits. The registration process requires applicants to provide personal identification details, including their name, date of birth, address, and Social Security number, ensuring a secure and regulated gambling environment.

The official launch of online betting operations came on March 11, and it was timed to coincide with the eve of the Atlantic Coast Conference men’s basketball tournament.

This event, featuring North Carolina’s Duke Blue Devils and North Carolina Tar Heels, always results in a lot of betting activity, which should have meant a great start for sports betting operators.

The first online wager in the state was reported by Caesars Sportsbook, which started its online betting services before other companies, thanks to its tribal casino partnerships – although initially bettors were only able to make bets while on tribal grounds.

State Takes 18 Percent on Gross Revenues

Each of the eight licensed sportsbooks has paid a $1 million licensing fee to the state, securing a five-year contract with the option to renew at the end of the term.

Starting March 11, these platforms will be permitted to offer bets on a wide array of professional and college sports events, with the state taking an 18 percent tax on gross sports betting revenues.

From the generated tax revenue, a large portion has been allocated to support athletic programs across 13 universities within the state. After covering regulatory expenses and setting aside funds for problem gambling programs, the sports wagering tax proceeds will be shared equally among these institutions.

The state’s sports betting industry is set to become a lucrative revenue source, with estimates suggesting annual proceeds of $70 million. This financial boost will benefit the state’s educational institutions and youth sports initiatives, marking an exciting new era for North Carolina’s sports and gambling sectors.