The North Carolina State Lottery Commission, which oversees sports betting in the Tar Heel State, announced last week that it had hired former Massachusetts regulator Sterl Carpenter to lead its gaming compliance and sports betting division.
Carpenter brings a wealth of experience to the position. He has worked in the gaming industry for more than 30 years, including the last eight for the Massachusetts Gaming Commission (MGC).
“After an extensive search, we have selected an experienced professional to serve in the newly-created role of Deputy Executive Director of Gaming Compliance & Sports Betting,” Mark Michalko, executive director of the N.C. Education Lottery, said in a news release. “Carpenter has experience in all aspects of regulations and licensing as well as compliance. We’re pleased to have someone with Carpenter’s experience and expertise leading this new gaming program in our state.”
Sports betting became legal in North Carolina when Governor Roy Cooper signed HB 347 into law on June 14.
The state has recognized the need for robust regulatory oversight to ensure fairness and integrity in the industry. The implementation of effective sports betting compliance measures is crucial in preventing fraud, money laundering, and other illicit activities. Without proper regulations and compliance measures in place, there is a significant risk of corruption, match-fixing, and other illegal activities.
The decision to tap the expertise of a former Massachusetts regulator to oversee sports betting compliance in North Carolina is a strategic move by the state government. By leveraging the experience and knowledge of Carpenter, who has successfully regulated a similar industry, North Carolina is positioning itself for success in the sports betting arena.
Some of his expertise includes, developing and implementing regulatory frameworks, conducting audits, and enforcing compliance measures. The state has set a tentative launch date of January 2024.
There will be 12 online licenses available. Sportsbook operators will be required to pay a $1 million fee for a five-year license once they are deemed suitable by state regulators, and online sportsbooks will share 18 percent of gross income with the state.