Underdog will wind down its North Carolina sportsbook next week, ending its only active sports betting operation in the United States. The company notified users that sports wagering access will stop at 11:59 p.m. on Dec. 16, a decision state regulators confirmed during a recent meeting. North Carolina’s Regulated Gaming Committee said Underdog had first contacted them “back before Thanksgiving” to outline a “business decision to cease offering sports wagering” in the state, according to SBC Americas.
North Carolina had been Underdog’s lone sportsbook market, even though the company also held a license in Ohio and briefly held one in Missouri. Both opportunities remained unused after Underdog shifted its strategy this fall.
Settlement Plans and Customer Accounts
Underdog has pledged to settle all remaining wagers before the transition. Open bets will be resolved on Dec. 17, and any futures wagers that remain active beyond Dec. 17 or Dec. 18—depending on the source—will be treated as winning tickets. One example provided to customers involved a futures bet on the Carolina Panthers: even though the team has been eliminated from playoff contention, such a wager “will be graded as a winner even though the team has been mathematically eliminated from the playoffs.”
The company’s shutdown FAQ reiterates that unsettled parlays and futures will “be paid out in the maximum amount.” Users will continue to have full access to their accounts, and withdrawals can be made at any time since the app will remain functional for daily fantasy sports. Any bonus credits still active after the sportsbook closes will convert to withdrawable funds or will remain available for DFS play, depending on the type of bonus.
Underdog also told customers, “We’re grateful to have you as part of the Underdog community and can’t wait to keep delivering great experiences your way.”
State regulators plan to publish a consumer notice, including an FAQ prepared by the company, to assist with questions surrounding outstanding wagers and account transitions.
Expanded Commitment to Prediction Markets
Underdog’s exit from sports wagering comes as the company turns more attention to prediction markets. The shift began earlier this year when Underdog partnered with Crypto.com to deploy prediction market features, which allow users to trade event-based contracts across major sports. These offerings debuted in September, marking what the company described as a first-of-its-kind arrangement between a gaming operator and a CFTC-registered exchange.
Since then, Underdog has expanded its prediction products to several states, including Missouri, where it chose not to proceed with a planned Dec. 1 sportsbook launch. Instead, it introduced predictions days before the state’s sports betting market went live. The company has also supported broader industry efforts, filing an amicus brief in Kalshi’s appeal involving a Maryland District Court decision and joining the Coalition for Prediction Markets, alongside Crypto.com, Coinbase, Robinhood, and Kalshi.
Underdog confirmed that these prediction markets will be incorporated into its North Carolina fantasy app soon after the sportsbook closure.
North Carolina Market Moving Forward
After Underdog’s departure, North Carolina will have seven online sportsbooks: FanDuel, DraftKings, BetMGM, Fanatics Sportsbook, Caesars, bet365, and theScore Bet. The state does not release revenue figures by operator, leaving Underdog’s performance unknown since online wagering launched in March.
For North Carolina users, fantasy contests will remain available, and Underdog emphasized that customers will continue using the same credentials across products. The company stated in its notification, “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.”
