Fanatics Sportsbook and the NHL’s North Carolina Hurricanes have announced their partnership to seek a sports betting license in North Carolina. This comes after the state’s sports betting law, signed by Gov. Roy Cooper, requires sportsbook applicants to apply in partnership with one of the state’s professional sports stadiums, venues, or leagues. Fanatics has struck an agreement with PNC Arena, home of the Hurricanes.
Hurricanes President and General Manager Don Waddell expressed his enthusiasm for the partnership, stating, “The Hurricanes are thrilled to welcome Fanatics as our Official Sports Betting Partner. Fanatics Sportsbook will bring a user-friendly experience for North Carolinians to wager on sports responsibly, and we’re proud to partner with them on this endeavor.”
The North Carolina State Lottery Commission is currently reviewing seven sports betting applications. Along with Fanatics, the applying sportsbooks include DraftKings with NASCAR, FanDuel with Sedgefield Country Club, BetMGM with Charlotte Motor Speedway, ESPN Bet with Quail Hollow Golf Club, and bet365 with Spectrum Center. A seventh applicant, Underdog Sports, has yet to reveal its partnership.
North Carolina’s sports betting law requires sportsbooks to commence operations by June 15, 2024. State officials have encouraged the lottery commission to expedite their review of the applications and finalize governing rules in time for the March Madness NCAA basketball tournament.
Fanatics Sportsbook is the sports betting entity of the popular American manufacturer and online retailer of licensed sportswear. The company plans to operate an online book and a retail sportsbook at PNC Arena. Additionally, they have stated that the in-person sportsbook will feature activations for hockey fans and other opportunities for Hurricanes fans and ticket holders to engage with the sportsbook.
With the U.S. Supreme Court ruling allowing states to determine their laws on sports gambling, fantasy sports turned sportsbook companies DraftKings and FanDuel have emerged as market leaders, controlling about 75% of the U.S. sports betting industry. Others in the sports betting industry include BetMGM, Caesars Sportsbook, ESPN Bet, and BetRivers, who hope to tap into DraftKings and FanDuel’s share. Fanatics Sportsbook currently operates in 10 states and expanded rapidly after acquiring PointsBet last year for $225 million in cash.
The CEO of Fanatics, Michael Rubin, has set an ambitious goal for the company – to become the “Amazon of the sports world.”