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Fantasy operator Underdog will shut down its sports betting platform in North Carolina next week, ending service on December 16. Customers have been told that no new wagers will be accepted after that date, and all outstanding bets will be settled by December 18.
Account holders have been assured that balances remain secure. Any unused wagering funds are being converted into withdrawable amounts, giving players access to their money both during and after the closure.
The company has also communicated these changes directly through email notices. The North Carolina State Lottery Commission also confirmed the exit. Underdog held one of the eight sports betting licenses in the state.
Fantasy picks still available
Underdog has also confirmed that while its sportsbook is leaving North Carolina, the company itself is not disappearing. Customers will still be able to log in with their existing accounts to make fantasy picks, join drafts, and use the rest of the app as usual.
The operator confirmed that all bets placed before the December 16 deadline will be settled, with accounts automatically updated to show the changes. Players do not need to take any action, as unused wagering balances are being converted into withdrawable funds.
To help address concerns, Underdog has also published a detailed FAQ page on its website.
In its communication with users, the company explained that unsettled wagers after the cut-off date would be treated as wins and paid out accordingly. The North Carolina State Lottery Commission added that it will continue working with Underdog to resolve any outstanding player issues, even after the sportsbook shuts down.
Focusing on prediction markets?
Underdog’s exit comes as the operator is trying to pivot into prediction markets. In September, the company announced a partnership with Crypto.com to introduce sports event contracts, positioning itself as the first sportsbook operator to formally offer this type of product.
Those contracts are set to appear directly inside the Underdog app, broadening what users can do beyond the familiar picks format.
The rollout won’t be nationwide at launch. Underdog plans to go live in 16 states, though it has not listed them publicly. Reporting indicates the initial focus will be on places where traditional sports betting remains off-limits, with large markets such as California and Texas among the likely targets.
“Prediction markets are one of the most exciting developments we’ve seen in a long time. While still new and evolving, one thing is clear – the future of prediction markets is going to be about sports – and no one does sports better than Underdog,” Underdog’s founder and CEO, Jeremy Levine, stated at the time.
Yesterday (Dec 10), Underdog, along with Kalshi, Crypto.com, Robinhood, and Coinbase, announced the formation of a coalition to defend US prediction markets. The group, Coalition for Prediction Markets, will push to strengthen the federal framework already in place, while educating participants on standards designed to keep markets fair.
