Mobile sports betting in North Carolina has finally launched and there is no shortage of the most popular sportsbooks in the industry. And while FanDuel and DraftKings have the highest name recognition, other second-tier brands like bet365 are not shy about spending money to make money on lavish promos and signup bonuses.
The Race Is On
The duopoly of FanDuel and DraftKings has a distinct advantage in any market they enter based on the companies’ name recognition. The two powerhouse mobile apps became entrenched in many markets throughout the nation even before 2018 when the federal ban on digital sports betting was overturned by the U.S. Supreme Court.
Daily fantasy sports allowed the duo to gain a foothold in the U.S. market before other sportsbooks could do the same. As a result, the dynamic duo accounts for approximately 71% of the market combined, while next-tier sportsbooks like Caesars, bet365, Fanatics, BetMGM and ESPNBET are also fighting for a lower spot on the podium.
Outspending the Competition
North Carolina will be no different than any other market that has launched mobile sports betting. However, one sportsbook has proven they are not afraid to aggressively use promotions to attract new customers and win market share. British bookmaker, bet365, is a wildly popular brand across the pond and has battled mightily to gain traction in the U.S. market.
For instance, in late September and throughout October, bet365 outspent its direct competitors in Kentucky by a wide margin. Consider that the British bookmaker used promos and credits, which equaled the following compared to the competition:
- $6.01-to-$1 versus BetMGM
- $8.19-to-$1 versus Caesars
- $25.20-to-$1 versus Fanatics Sportsbook
It would surprise no one if the European sportsbook spent early and often in the newly-launched North Carolina market. The company’s opening promotional salvo shows that a $5 wager will reap $200 in bonus bets, while the company is also offering a safety net promo which sees them matching any sports bet up to $1000 if it loses.
Bet365 Teams With Hornets
It should be noted that bet365 was the first confirmed sportsbook in North Carolina through its partnership with the NBA’s Charlotte Hornets.
The Tar Heel State is a college basketball hotbed with teams like UNC and Duke as the state’s most storied programs. However, the Charlotte Hornets have also become popular and bet365 will be able to use their social media platform as well as digital signage in the team’s home court, the Spectrum Center.
“Everyone at bet365 is thrilled to partner with the Hornets, as we launch our iconic sports betting brand in North Carolina. The Hornets’ rich and dynamic history is deep rooted in the Queen City community, and we’re abuzz to become part of their exciting future,” said a bet365 spokesperson.
“We are excited to announce this partnership with bet365,” said Hornets Sports & Entertainment Chief Revenue Officer Jacob Gallagher. “Since the day Governor Cooper signed sports wagering into law at Spectrum Center in June, we sought a partner that would help us provide our fans with new, additional opportunities to engage with their favorite sports teams. We are confident that bet365 is a great fit with our organization and can help us do that.”
