BetMGM secures North Carolina betting market access

The leading sports betting and iGaming operator, BetMGM, announced its plans to expand its US-facing footprint by securing a new market access agreement. The company revealed it joined forces with the iconic entertainment and motorsports venue, Charlotte Motor Speedway. Under the terms of the new market access agreement, BetMGM will be able to roll out its online sports betting platform for customers in North Carolina once the state launches its legal sports wagering market.

Currently, North Carolina offers retail sports betting. The regulated online sports betting market in the state is expected to launch at some point in the first quarter of this year. Thanks to the new agreement, subject to approval from the state's gambling regulator, BetMGM anticipates launching its leading sports betting app with the launch of the market in North Carolina.

The tax rate for online betting is set at 18%. Tax proceeds from the activity are expected to support publicly funded colleges across the state. Additionally, part of the tax revenue will be allocated toward a major event fund that would enable North Carolina to create new jobs and boost tourism.

Greg Walter, Charlotte Motor Speedway's Executive Vice President and General Manager, highlighted the importance of the new collaboration with BetMGM. In a statement, he explained that the brand is renowned for the quality of its services and exciting partnerships with leading sports leagues across the US. "With Charlotte Motor Speedway's history of innovation, we wanted to move forward into this new era of sports entertainment with a progressive sportsbook," added Walter.

Finally, he pointed out: "This partnership with BetMGM will bring sports fans new ways to enjoy their favorite events while expanding North Carolina's tax base, supporting colleges and facilitating recruitment of major events for the future."

Adam Greenblatt, BetMGM's CEO, was similarly delighted. "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," he added.

According to Greenblatt, the company's collaboration with Charlotte Motor Speedway will help cater to the needs of residents of North Carolina for entertainment. "Together we will deliver a premier and responsible gaming product that benefits many state agencies," he explained in conclusion.

With BetMGM continuously expanding its US-facing footprint, the company remains dedicated to responsible gambling. The leading sportsbook offers a wide range of responsible gambling tools, as well as information and educational materials that can help bettors gamble responsibly.

Image credit: Pixabay.com