Continent 8 gearing up for North Carolina sports betting market

North Carolina sign
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Continent 8 has confirmed it will enter the sports betting market in North Carolina when it launches next year, bringing its range of solutions for operators. 

The hosting and infrastructure provider has told stakeholders that its full range of products and solutions will be available to help ensure operators can go live quickly and are fully compliant when doing so. 

Announcing this so early is part of the firm’s “aggressive” first-to-market approach to sports betting as it places emphasis on getting operators live and ready in a quick fashion. 

Justin Cosnett, Chief Product Officer at Continent 8 Technologies, said: “We have been aggressive with our first-to-market approach in the US because it’s vital that operators can access the infrastructure solutions they need ahead of markets opening so that they are good to go from day one.

“What’s more, where possible we have invested in multiple sites in each state, such as North Carolina, enabling customers to utilize our backup and disaster recovery services.”

Sports betting was legalized in North Carolina last month after Gov. Roy Cooper put pen to paper in HB347, which will allow up to 12 operators to enter the state for a $1m licensing fee. 

Operators will pay an 18% tax rate on GGR whilst no promotional credit deductions will be allowed to reduce the amount of tax they will be liable to pay. 

With Gov. Cooper signing the bill in June, the state must launch a sports betting market by June 2024 as per the bill. Sports betting could also launch as soon as January. 

Continent 8 will be ready to get operators’ IT infrastructure and platforms live and ready to take bets ahead of the launch date regardless of when the go-live date is, as it delivers its whole range of solutions for its partners. 

Nick Nally, Chief Revenue Officer at Continent 8 Technologies, added: “Our regulatory knowledge and experience are unrivaled, and this is key to deploying our first-to-market approach in the US. This was certainly the case in North Carolina where we have been able to keep pace with legislative progress at all times.

“North Carolina will be a significant online sports betting market and is one that we know our customers have set their sights on. We can now offer our suite of igaming hosting, connectivity, cloud and security solutions to these operators who can be confident they are fully compliant with the requirements set by the regulator.”