North Carolina has hired Sterl Carpenter, a well-known industry expert, to supervise the state’s sports betting compliance. Carpenter began his tenure as the southeastern state’s new Deputy Executive Director of Gaming Compliance and Sports Betting on August 2, 2023. In an effort to stay up with the recently widely discussed issue of the legality of online gambling in the United States, the state is making rapid progress toward the launch of online sports betting.
Sterl Carpenter: From Casino Floor to Compliance Chief
Expectations are high for the newly appointed deputy director, given his track record of delivering on the sports betting compliance front. Carpenter has worked in the gaming industry for almost three decades. His dedication has seen him ascend from a pari-mutuel clerk to the head of sports wagering bodies. The gaming industry commentator rose to prominence as a casino floor manager at the Foxwoods Resort and Casino in Connecticut. He eventually worked for the Massachusetts Gaming Commission as the Sports Wagering Operations Manager for eight years.
Mark Michalko, executive director of the North Carolina Education Lottery, announced Sterl’s new appointment: “After an extensive search, we have selected an experienced professional to serve in the newly-created role of Deputy Executive Director of Gaming Compliance and Sports Betting.” Carpenter is well-versed in all aspects of laws, licenses, and compliance. We’re excited to have someone with Carpenter’s experience and expertise overseeing our state’s new gaming program.”
Carpenter is credited with being one of the driving forces behind creating and implementing the Massachusetts sports betting program. When bidding farewell to the Massachusetts panel, the other five commissioners praised his abilities to achieve desirable results and wished him well in his new position. The commission’s chairperson, Cathy Judd-Stein, said it was a sad day for them, but they were delighted that another party appreciated his work.
Leading the State into the Future
Carpenter is a key resource for the new reality as North Carolina prepares to regulate its sports betting business. The Eastern Band of Cherokee Indians has long been the sole operator of gaming in the state. The state legalized sports betting, including horse racing, in 2019. On July 14, 2023, Governor Roy Cooper signed House Bill 347 into law, making other types of gambling lawful. The bipartisan legislation allows online sports betting in the state for amateur, collegiate, and professional sports.
Though online gambling has been legalized, its comprehensive rollout is anticipated in the first half of 2024, positioning North Carolina as the 28th state to adopt online sports betting. This move mirrors recent decisions by states like Vermont to legalize online sports betting. Currently, tribal casinos remain the exclusive gambling hubs for North Carolina residents. The state is poised to distribute sportsbook licenses soon in light of the new regulations. A central aspect of Carpenter’s role will involve designing, implementing, and supervising the compliance framework for sports betting activities.
A Forecast of The Possible Future
When online gambling becomes available, the North Carolina State Lottery Commission will be required to grant licenses and collect application fees. Licenses will be issued in various forms, including sports wagering supplier licenses, service provider licenses, and sports wagering licenses. Each will be valid for five years, after which holders must renew to continue operating in the state.
Several investors have already expressed interest in the licenses, and other sportsbooks are eyeing the potentially lucrative sports betting industry in North Carolina. FanDuel and DraftKings will almost certainly pounce on the opportunity. BetMGM and Caesars Sportsbook, which offer various online wagering platforms such as betting applications, may also compete for the new legal market. Carpenter is responsible for ensuring bookmarkers comply with the new law’s requirements, including remitting 18% of their revenue as tax. The state intends to use the tax revenue to improve public services and facilitate sports initiatives. Carpenter and other North Carolina Lottery Commission members will establish legal frameworks and vetting license applications over the coming months.
Conclusion
The Tar Heel state, led by Democrat Governor Roy Cooper, believes Sterl Carpenter is qualified for the Deputy Executive Director of Gaming Compliance and Sports Betting position. Carpenter has often demonstrated his capacity to complete important projects. Although he is new to North Carolina, the sports betting business veteran will most certainly assist the state in achieving its long-term goals. Legalization is a considerably superior option for establishing a regulated online gambling market in North Carolina, reducing problem gambling and massive revenue loss to unlicensed operators.