With mere months to go, the North Carolina Lottery Commission is still in the hiring stage for sports betting regulators. They’ve posted a job for a sports betting license financial investigator to assist in regulating the new sports betting gaming industry in the Tar Heel State.
NCLC Deputy Executive Director of Gaming Compliance and Sports Betting, Sterl Carpenter, a new hire himself, is leading the efforts to put regulatory processes in place for staff.
Job description for NC sports betting license financial investigator
According to the job posting on LinkedIn, the state is seeking “an individual to join a newly created department tasked with conducting financial investigations and accounting reviews of the financial statements and related information submitted for sports betting and gaming applicants, entities, key managers, and principals.” It goes on to state that the department “is committed to developing a sports wagering program with the utmost integrity.”
Among the many job duties, the most crucial for the role of sports betting license financial investigator in NC are:
– Examine, evaluate, and investigate applicants to provide assurance that applicants meet suitability requirements for initial and renewal gaming licenses, or registration as established by law and regulations for the NC Education Lottery.
– Thoroughly examine and analyze financial statements, accounting records, bank statements, computer records, business records, public documents and other relevant records.
– Evaluate underlying investigative, financial, and analysis theories to make determinations regarding the probity and financial suitability of gaming applicants.
– Identify and calculate relevant financial ratios to assure applicant financial integrity and suitability.
The position closes on Oct. 9.
Other recent hires by North Carolina’s gaming regulatory body
The NCLC held its first hearings on regulatory matters last month, and it appears the state is in no hurry to launch North Carolina sports betting. The law states that sports betting must be launched in North Carolina by Jan. 8, 2024, but no later than June 14, 2024.
To those efforts of navigating a measured, thorough launch, Carpenter and his staff are methodically ensuring North Carolina’s sports betting market gets off to a hitch-free start. Carpenter previously helmed the sports betting launch in Massachusetts.
In August, the NCLC posted a job listing for a director of licensing, a full-time position that will pay between $109,000 and $125,000 per year. The state is no longer accepting applications for that position, according to LinkedIn and the NCLC website.
In September, the NCLC hired two associate attorneys who will do the legal work to assess regulatory language and matters related to sports betting laws as North Carolina establishes its guidelines for a sports wagering market.
Also earlier this summer, NCLC announced that it had contracted with Gaming Laboratories International to assist the North Carolina Lottery Commission in formulating a regulatory process and rules for sports betting. GLI previously worked with the Massachusetts Gaming Commission in a similar role, and in other states.
Carpenter, in the most recent NCLC meeting, implied that the goal was to launch sports betting before the June deadline and not as early as January. This means the Tar Heel State will likely miss out on Super Bowl betting in 2024.
Despite likely missing the Superbowl this coming year, NCSharp predicts that sports betting will get off to a fast start. We preliminarily project that the state could generate between $6 and $7 billion in total bets in the first full year of legal online sports betting.