Underdog to Cease North Carolina Sports Betting, Will Launch Prediction Markets in State

• The North Carolina Lottery Commission reported today the licensed sports betting operator will cease sports betting in the state on Dec. 16
• Underdog confirmed the report, instead choosing to focus on its prediction market offerings throughout the U.S.
• Underdog also recently gave up its Missouri sports betting license before launching in the state

Underdog announced it will stop offering North Carlina online sports betting next week, but will launch its prediction market services in the Tar Heel State shortly thereafter.

North Carolina regulators today reported during a Regulated Gaming Committee meeting that Underdog notified the state that it will cease its sports betting services after Tuesday, Dec. 16. It will continue to offer its daily fantasy sports services in the state, however.

An Underdog spokesperson confirmed the news to Sports Betting Dime, but also revealed it will launch Underdog Predictions, the company’s new prediction market services, in North Carolina “soon.”

Focusing on Prediction Markets

North Carolina is the only sports betting market currently live for Underdog. The company holds a sports betting license in Ohio, which it is unlikely to use anytime soon, and recently gave up a sports betting license it had acquired in Missouri.

Underdog pulled its license from Missouri one week prior to the state’s sports betting launch on Monday, Dec. 1. A Missouri Gaming Commission representative said Underdog planned to focus its future attention on prediction markets.

Underdog launched its prediction market offerings in early September after announcing a partnership with Crypto.com. The partnership enables Underdog customers to trade and purchase sports event contracts across all major sports leagues, including the NFL and college football, the first of its kind between a CFTC-registered exchange and a gaming company.

Underdog Predictions is currently live in Missouri and will be activated in North Carolina soon after the final day of sports betting next week.

North Carolina will now be reduced to just seven licensed sports betting operators.

North Carolina Users Notified of Closure

Underdog this week notified its North Carolina sports betting customers of the Dec. 16 closure.

“We wanted to let you know about an upcoming change in North Carolina: Starting December 17, sports betting will no longer be available via the Underdog platform. Don’t worry. Underdog isn’t going anywhere. You’ll still be able to make fantasy picks, play drafts, and enjoy everything else you love about the app using the same credentials as before,” the notification informed users.

All wagers placed before Dec. 17 will be honored. Any live futures wagers that will not be settled by Dec. 17 will be paid out as a win, according to the notice.

Account funds will be able to be withdrawn at any time, including after Dec. 17. Additionally, active bonus funds will remain available for use on DFS games after the date as well.