BetMGM to Access North Carolina Sports Betting Market Through Charlotte Motor Speedway Partnership

Charlotte Motor Speedway holds the Coca-Cola 600, one of NASCAR’s premier events each racing season on Memorial Day weekend.

Jan 8, 2024 • 11:05 ET • 4 min read
Charlotte Motor Speedway NASCAR Chase Briscoe
Photo By - USA TODAY Sports

BetMGM is getting into the North Carolina legal sports betting scene through a storied sports venue. 

The online and retail sportsbook company announced Friday a partnership with the Charlotte Motor Speedway, one of eight venues in the Tar Heel State that can sign deals with operators. 

“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,” BetMGM CEO Adam Greenblatt said in a statement. “BetMGM’s partnership with Charlotte Motor Speedway meets a great demand for entertainment from North Carolinians. Together we will deliver a premier and responsible gaming product that benefits many state agencies.”

BetMGM expects to be one of the initial sportsbooks approved to operate when North Carolina sports betting officially launches this year. No go-live date has been announced. 

History meets progressive

Charlotte Motor Speedway holds the Coca-Cola 600, one of NASCAR’s premier events each racing season on Memorial Day weekend. The Bank of American Roval 400 also runs on the 1.5-mile track, which was built in 1959 and is a huge part of the sport’s legacy. 

“With Charlotte Motor Speedway’s history of innovation, we wanted to move forward into this new era of sports entertainment with a progressive sportsbook,” Charlotte Motor Speedway executive vice president and general manager Greg Walter said. “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.”

BetMGM is partnered with several pro sports teams and leagues, including the NBA, NHL, and NFL.

Initial seven

BetMGM is the sixth of the initial seven operators that have already applied for a license in North Carolina to strike a partnership with a pro team, league, or venue. 

This essentially guarantees BetMGM and the other sportsbooks the ability to operate, still pending licensing and approvals, when wagering begins. 

DraftKings announced a deal Friday with NASCAR while FanDuel, bet365, Fanatics, and ESPN BET have also struck deals in the Tar Heel State. The Charlotte Hornets are already displaying bet365 signage inside the Spectrum Center. 

Underdog Fantasy, a daily fantasy site, has also applied for an operating license with the plan of launching a sportsbook in North Carolina. 

Sports betting becomes legal in North Carolina on Jan. 8, but it won’t go live until later this year. Officials hope to launch in time for March Madness.

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