Online sports betting platforms that applied for licenses last month to enter the North Carolina online sports betting market can now shift their focus towards the next step in the licensing process; providing documentation on internal controls.
During a meeting on January 4 the Sports Betting Committee of the North Carolina Lottery Commission set a deadline of January 26 for NC online sportsbooks like DraftKings North Carolina to furnish evidence of their internal controls. Understanding and verifying a sportsbooks controls is crucial as it allows regulators to gain insight into the operators comprehensive plan for administrative tasks, accounting procedures, fraud prevention measures, surveillance protocols and reporting systems.
These internal controls also encompass network security and physical safeguards to protect company data and assets. Moreover the commission plans to hold meetings, with sportsbook staff members in order to address any queries they may have regarding the submission process. Internal control procedures are a requirement in the NC sports betting industry.
In states where sports betting’s legal, submitting internal control protocols is a crucial step in the licensing process. As a result the seven operators who have completed their license applications should be quite familiar with this process.
Among the operators who have submitted applications and are ahead of others in initiating the internal controls process are…
Top-Tier Operators:
- FanDuel (Betfair Interactive US)
- BetMGM
- DraftKings North Carolina promo code (Crown NC Gaming)
- Fanatics Betting & Gaming (FBG Enterprises North Carolina)
Other Notable Operators:
The next steps for operators involved in North Carolina sports betting involve obtaining approval from the NCLCs director of gaming compliance for their internal controls before they can commence operations. Furthermore all operators must obtain a certificate of compliance from the NCLC.
During their meeting the Committee outlined the criteria that need to be met to receive this certificate of compliance for North Carolina betting apps.
Although a specific launch date for sports betting has not been determined yet Governor Roy Cooper expressed his desire for wagering to commence in time, for mens March Madness along with North Carolina sports betting promos.
✅ Fact Checked on January 27, 2024 by Ken Weaver
Ken Weaver, a journalist since 2003, has specialized in online gambling and sports betting since 2009. Renowned for his insightful analysis and comprehensive coverage, Ken has become an influential figure in the industry. His work, marked by integrity and depth, has significantly contributed to public understanding and shaped the narrative in the dynamic world of online betting and sports journalism.
