FanDuel will have access to a sports betting license in North Carolina via a partnership with the PGA Tour, according to the company.
North Carolina sports betting law dictates that sportsbooks must have partnership deals with a professional sports team, speedway, NASCAR, PGA event, or the PGA Tour itself.
The deal does not mean that FanDuel will be guaranteed a sports betting license, but it’s likely given the company’s status as one of the market leaders nationally.
The state has ruled out an online sports betting launch ahead of the 2024 Super Bowl on Feb. 11 and has until June 14, 2024, to go live.
FanDuel and the PGA have strong ties
The PGA Tour has a long history of collaboration with FanDuel. “We are very familiar with FanDuel,” said PGA Tour Vice-President of Gaming Scott Warfield. “We are probably the president of their fan club, and we intend to be in business with them as long as we’re in sports betting.”
Terms of the partnership have not been disclosed, but, as Sports Business Journal reported, FanDuel North Carolina will not include specific sponsorship rights with the PGA Tour. Typically, such a deal lasts as long as a decade.
North Carolina hosts two PGA events: Wells Fargo Championship in Charlotte; and Wyndham Championship in Greensboro. The former event has a $20 million purse, and the latter has a purse of $7.6 million.
According to the NC Lottery Commission, applications for a sports betting license are due by Dec. 27.
Sportsbooks are moving quickly in North Carolina
As many as 11 sportsbooks have now submitted an application for a license in the Tar Heel State. The NCLC has 60 days from the date an application is received to approve or reject it. North Carolina currently has 11 sports betting operator licenses to issue.
It’s anticipated that familiar names will be on the list of sportsbooks to operate in North Carolina, including FanFuel, DraftKings, Caesars, BetMGM, and newcomers Fanatics and ESPN Bet, as well as others.
FanDuel becomes the third sportsbook to partner with a sports entity in North Carolina. They follow ESPN Bet North Carolina which partnered with Quail Hollow Club last week and Bet365 which partnered with the Charlotte Hornets three weeks ago.
Sportsbooks must pay a $1 million application fee that is good for five years.
North Carolina will become the fifth-largest state with legal sports betting online, following New York, Pennsylvania, Illinois, and Ohio. The NC Lottery Commission and its Sports Betting Committee are still finalizing the sports betting rules, and NCSharp thinks a March Madness 2024 launch could still be on the table.
Image Credit: Koji Sasahara / AP Images