North Carolina Regulator Sets Rules for Online Sports Betting Launch
LISTEN TO THIS ARTICLE:The North Carolina Lottery Commission, the gaming regulator for the US state, has announced a second set of rules for online sports betting in the region following a recent meeting.
The purpose of the meeting was for the Lottery Commission to provide an update on the process of the progress of starting online sports betting in the state. The regulator outlined that more than a dozen gaming companies have registered an interest in operating in the state when sports betting goes live in 2024.
There were also further rules for the framework of gambling legislation in the state following a consultation period.
Further Sports Betting Rules Approved
A raft of guidelines on gaming was approved and these included sports stadiums in North Carolina that are permitted to display branding and logos relating to online sports betting companies. This was previously prohibited and paves the way for sports teams in the region to sign potentially lucrative sponsorship deals with gambling companies, who will be able to gain immediate brand awareness to a new customer base.
The report states that responsible gaming will feature in the approval of a sports gaming license, including a gambling helpline and voluntary self-exclusion schemes. As part of being granted a license to operate in the state, gambling companies must have a responsible gambling policy that outlines the steps the company will take to ensure a safe environment for its customers
There are marketing and advertising restrictions that prohibit online sports betting operators from using any media platform to target young people under the age of 21.
Gaming Operators Apply for Sporting Betting License
Gaming companies that want a license to operate online sports betting in the state have until December 27th to register their interest with the Lottery Commission. The Commission states that 14 operators have applied for licenses but has not named them.
However, three of the large Sports betting operators have already started to undertake some of the legal requirements in order to obtain a license. FanDuel, ESPN Bet, and bet365 have reached agreements, called Written Designated Agreements, with major league sports teams in the state.
Related: North Carolina Launches Process for Sports Betting Applications
Sports Betting Launch Date
During the update meeting, the commission did not give a definite date when online sports betting in North Carolina would commence.
The regulator has already stated it does not believe the process will start before January 8th and has also admitted this will probably not start before the date of this season's Superbowl in February.
The North Carolina Lottery Commission is legally bound to commence online sports betting in 2024 and has a deadline date of June 14th to set up the launch in the state.
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