DraftKings Ready to Enter NC Sports Betting Market as Industry Leader

DraftKings stands ready to enter the North Carolina online sports betting scene next month as the number one operator nationwide after a hugely successful 2022.

Though missing Wall Street profit estimates in its latest earnings report, DraftKings still saw a 44% jump in year-over-year revenue and continues to dominate the mobile sports wagering field. During a February 16 investors call, DraftKings executives laid out 2024 plans and predicted smooth sailing into North Carolina on March 11.

Already live in 24 states reaching 46% of Americans, DraftKings grew its monthly unique bettors to 3.5 million last quarter, up 37% from early 2022.

Bold North Carolina Entry Expected

With the March 11 North Carolina sports betting launch closing in, DraftKings Sportsbook NC looks all set as one of eight licensed operators.

After undergoing the North Carolina Lottery Commission’s strict vetting, DraftKings met required deadlines. Clients can start funding accounts on March 1 during a unique 10-day pre-launch period to get acquainted before wagering opens.

When an analyst wondered how North Carolina would stack up to recent DraftKings entries into Michigan and Ohio, chairman and CEO Jason Robins responded optimistically.

“North Carolina will be similar. A bit less populous than Ohio but a top 10 state. We expect a great launch significantly contributing right away. Our playbook is honed so we’ll approach North Carolina like recent successful state launches, maybe with some minor optimizations.”

Innovation and New Bets Key to Market Dominance

With feverish competition from venerable FanDuel Sportsbook NC and Walt Disney-owned rookie ESPN Bet, DraftKings must continually upgrade offerings to maintain market share and keep customers.

Robins addressed this earnings call:

“Easier to get first-time users to try new products versus getting existing users to alter behavior. But positive trends continue gaining steam each year even in oldest states.”

Like ESPN Bet, DraftKings plans expanding parlay bet varieties while also boosting low parlay volume in current states.

“Parlay mix trends point the right way. Expect that tailwind strengthening over time until convergence with new state norms. Just takes longer.”

North Carolina Preps for Launch

This week, the North Carolina Lottery Commission provided launch readiness updates. Determined to start online sports betting on time, the agency assigns specialists helping operators solve last-minute snags to receive the vital Certificate of Compliance.

✅ Fact Checked on February 24, 2024 by Ken Weaver