DraftKings has partnered with Nascar to offer sports betting in North Carolina. As part of the deal, DraftKings becomes the exclusive daily fantasy sports partner for Nascar in the US and Canada, and will also be an authorized gaming operator of Nascar with sponsorship benefits
BetMGM, the joint venture of MGM Resorts and Entain, has partnered with the Charlotte Motor Speedway in North Carolina to provide sports betting. The launch is subject to regulatory and license approval, with a planned opening before the end of Q1
North Carolina is on track to legalize sports betting, with governor Roy Cooper signing House Bill 347 into law. The North Carolina State Lottery Commission has approved applications for sports betting licensure and is currently reviewing each application
While the launch date for legal betting in North Carolina is not yet announced, the market access agreements secured by DraftKings and BetMGM suggest a possible launch in Q1. ESPN Bet, Fanatics, and FanDuel Group are also seeking licenses in the state
Although certain measures for sports betting were outlined in the bill, final rules are yet to be agreed upon. The current tax rate for license holders is set at 18% of gross gaming revenue
The initial set of rules published in October included a ban on pick’em-style daily fantasy sports games
