Highly-anticipated launch

People in North Carolina finally have a launch date for online sports betting. The state’s Lottery Commission voted unanimously on Wednesday in favor of the sector going live at noon on March 11 noon, which is the day before the beginning of the Atlantic Coast Conference (ACC) men’s college basketball tournament.

The launch is also about a week before the beginning of the NCAA Men’s and Women’s Basketball Tournaments, best known as March Madness, a hugely popular event among US bettors. In a press release, Commission Chair Ripley Rand said that people will soon be able to bet on games “securely and fairly” through rules that will encourage responsible gambling.

set up a new account and deposit funds starting March 1

People in the state can set up a new account and deposit funds starting March 1 once the platform has received the green light from the regulator. The reasons behind this move are to allow individuals to choose their preferred operator, as well as familiarize themselves with responsible gambling features and the online user experience.

Getting over the line

Lawmakers in North Carolina were initially hoping to launch sportsbooks in time for the beginning of the NFL playoffs or the Super Bowl. Delays in developing a framework and the licensing process led to the timeline getting pushed back to March. The legislation that legalized sports betting put a deadline of June 15 on the market going live. Both parimutuel wagering and retail sports betting will also be launching in the future.

Talking about the process of getting the market up and running, Commission Executive Sterl Carpenter said that they did their best to introduce sports betting as soon as practicable in a “complete, professional, transparent manner and with the highest standards of integrity.”

Plenty of competition

Nine operators have submitted license applications so far and the regulator’s reviews are continuing. They have to outline their planned internal controls by Friday so the commission can approve them. Each prospective candidate must partner with one of the state’s teams, sporting venues, or a league to be considered. Tribal retail sportsbooks have been in operation for some time in North Carolina and the two gaming tribes have submitted online license applications.

Some operators have already publicly revealed their partnerships. Bet365 has a deal with the NBA’s Charlotte Hornets, DraftKings partnered with NASCAR, and BetMGM has a relationship with the Charlotte Motor Speedway.

ESPN Bet and Underdog Sports have agreements with golf courses that host annual PGA Tour events. Finally, Fanatics Sportsbook partnered with the NHL’s Carolina Hurricanes and FanDuel gained access through a deal with the PGA Tour. The NFL’s Carolina Panthers, the NC Courage and Charlotte FC soccer clubs, and the North Wilkesboro Speedway have not announced any deals.