FanDuel Becomes Third Confirmed North Carolina Sportsbook Via PGA Tour Partnership
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FanDuel is the newest sportsbook to secure entrance into the North Carolina sports betting market as it penned a deal with the PGA Tour late last week, as reported by Sports Business Journal. It joins bet365 and ESPN Bet as the only confirmed sportsbooks in the state so far.
Bet365, ESPN Bet, FanDuel All Coming To North Carolina
This deal extends a preexisting partnership between FanDuel and the PGA Tour that started in 2020. In 2024, North Carolina is home to two stops on the PGA Tour – the Wells Fargo Championship in May and the Wyndham Championship in August.
This deal acts as a “written designation agreement” between the two entities in the state, a unique aspect of the North Carolina sports betting rules. Entities that form these agreements will be given preference when it comes to being awarded one of the state’s 12 online licenses. Similarly, Bet365 partnered with the Charlotte Hornets, and ESPN Bet (Penn Entertainment) linked up with Quail Hollow Country Club.
SBJ said that sponsorship and marketing exposure are not a part of the agreement, unlike Bet365 and ESPN Bet’s deals. This agreement was strictly created so FanDuel could gain market access.
According to SBJ, PGA Tour’s VP of Gaming Scott Warfield said, “We intend to be in business with them as long as we’re in sports betting. That made something that’s long-term like this make a ton of sense.”
Timeline and Licensing Details
The state will award 12 online licenses and eight retail licenses to various operators. While these partnerships do not represent a binding licensing agreement with the state, it is indicative that they will be approved for such. So, nine online and six retail licenses are still up for grabs.
The application process for licenses in the state opened last week, and applications are due no later than Dec. 27. Last week, the state’s lottery commission announced that 11 operators had already submitted applications.
The state’s sports betting committee will have until Feb. 20 to review and issue licenses to applicants. While this deadline misses the Super Bowl on Feb. 11, there is still hope that the market could launch by the beginning of the March Madness tournament on March 19. The state has until mid-June to launch.
