Underdog will shut down its sports betting operations in North Carolina on December 16. This action marks its exit from the state’s regulated wagering market. Customers were informed that new bets will no longer be accepted after the shutdown date. Meanwhile, all outstanding wagers will be settled by December 18.
Balances Converted to Withdrawable Funds
The operator assured players that their account balances remain safe. Underdog is converting all unused wagering funds into withdrawable cash. This allows customers to access their money before and after the closure. The company has already notified users directly by email, and the North Carolina State Lottery Commission confirmed the operator’s departure. Underdog currently holds one of the state’s eight sports betting licenses.
Fantasy Products Remain Available
Even though the sportsbook is leaving North Carolina, Underdog will continue offering fantasy contests. Players can still log in with existing accounts to submit picks and join drafts. They can use the rest of the app as normal. The operator also clarified that all pre-deadline wagers will be settled and reflected automatically in user accounts. No action is required from players. To address common questions, Underdog has published a detailed FAQ on its website.
Settlement Rules After the Cut-Off Date
Underdog stated that any unsettled wagers after December 16 will be treated as wins and paid out accordingly. The Lottery Commission added that it will continue working with the operator to resolve any player concerns even after the sportsbook goes offline. This reassurance aims to provide clarity during the transition period.
Company Shifts Toward Prediction Markets
Underdog’s withdrawal from North Carolina comes as the company pivots toward prediction markets. Earlier in September, it partnered with Crypto.com to launch sports event contracts. This positions it as the first sportsbook operator to formally introduce this type of offering. These contracts will appear directly within the Underdog app. This expands customer options beyond traditional fantasy picks. The rollout will begin in 16 states, focusing first on jurisdictions where conventional sports betting remains unavailable. Industry reports suggest large markets such as California and Texas may be among the initial launch locations.
Coalition for Prediction Markets Launched
On December 10, Underdog joined Kalshi, Crypto.com, Robinhood, and Coinbase to form the Coalition for Prediction Markets. The group aims to strengthen the existing federal framework. Additionally, it seeks to educate users about standards designed to keep prediction markets fair and transparent. This move underscores Underdog’s growing commitment to the emerging prediction-based wagering ecosystem.
