Charlotte Motor Speedway taps BetMGM for NC access deal

BetMGM North Carolina
Image: Shutterstock / Grindstone Media Group

BetMGM is continuing to expand its reach as a sports betting operator in the United States.

Charlotte Motor Speedway and BetMGM have reached an agreement to offer BetMGM’s online operations in North Carolina once the state launches authorized sports betting later this year.

“We have been eagerly awaiting legal, safe, regulated online sports betting in North Carolina, a state with more than 10 million people and one of the most vibrant sports environments in the country,” said BetMGM CEO Adam Greenblatt. “Together, we will deliver a premier and responsible gaming product that benefits many state agencies.”

BetMGM — the third largest sportsbook in America in terms of market share at roughly 17% — has secured a deal with Charlotte Motor Speedway amid a North Carolina ruling that requires sports betting operators to partner with a professional sports team, venue, or league to be awarded a sports betting license in the state. BetMGM applied for a license in December 2023 with the North Carolina Lottery Commission, which plans to evaluate applications within 60 days.

If approved for a license, North Carolina will be the 29th market BetMGM has access to. The NCLC could begin offering sports betting in the Tar Heel State in the first quarter of 2024.

BetMGM joins DraftKings, FanDuel, bet365, ESPN BET, Fanatics, and Underdog Fantasy as early applicants for an operator license in North Carolina. DraftKings, which is the second largest sports betting operator in the U.S., has agreed to a partnership in North Carolina with NASCAR.

Operators who are granted a license in North Carolina will be required to complete a compliance process, which includes geolocation testing and a demonstration of wagering.