North Carolina Legislature Approves Sports Betting Bill
After years of stubborn legislative resistance, the likelihood of online sports betting becoming legal in North Carolina is promising following the General Assembly's approval of a gaming expansion bill that aims to introduce internet sportsbooks in the state colloquially known as the Tar Heel State.
North Carolina currently hosts in-person sportsbooks due to its three tribal casinos located in the southwestern and mountainous areas of the state, far from the city of Charlotte.
On a significant Wednesday, the North Carolina House of Representatives incorporated the Senate’s alterations to House Bill 347. The 69-44 vote supporting the upper chamber’s amendments to the bill passed in March now awaits Gov. Roy Cooper’s (D) signature. With him nearing the end of his second term, the bill's signing is anticipated.
This is a momentous day for North Carolina sports enthusiasts,” Scott Ward, vice president of the Sports Betting Alliance, affirmed. “Today marks the culmination of years of diligent work by North Carolina legislators, education, and community stakeholders, as well as fans, and we offer our heartfelt gratitude for their relentless efforts.”
The Sports Betting Alliance is a group that represents the interests of sports betting companies operating within the lawful US market.
Legislation Particulars
HB347 empowers the North Carolina Education Lottery to issue up to twelve online sportsbook licenses. Each applicant will undergo a thorough background check, as well as an examination of the major shareholders and executives of the applicant entity.
Upon approval, the license recipient will pay the state a $1 million fee, valid for five years. Renewals will cost another $1 million for another five-year period.
Each sportsbook’s gross revenue will be subjected to an 18% tax due to the state. Operators are prohibited from deducting their promotional incentives given to players from their net income.
The sports betting bill additionally legalizes pari-mutuel wagers on horse racing, a provision absent in the House version. The bill also endorses some in-person commercial sports betting at eight professional sports stadiums and venues.
Only individuals aged 21 and older are permitted to establish an online sportsbook account and engage in sports betting once the platforms are operational. The North Carolina Lottery predicts that online sports betting may commence as early as January, but spring 2024 is a more realistic schedule, according to state officials.
Assembly Composition
With Cooper’s signature, sports betting would mark North Carolina’s first expansion of commercial gambling since authorizing the state-run lottery in 2005.
Since the US Supreme Court’s May 2018 dismantling of the federal ban that restricted single-game sports betting to Nevada, some members of the General Assembly have fought unsuccessfully to authorize sports betting on professional and college sports.
Year after year, the conservative legislature and Democratic lawmakers, situated in the middle of the road, declined to forward sports betting to Cooper. However, this year the scales tipped in favor of gaming expansion when 43 newly elected lawmakers took their seats in the Raleigh capital, joining the 170-member bicameral legislature.
Despite the opponents, 44 House lawmakers and 11 Senators voted against the online sports betting measure. These opponents raised concerns about problem gambling and the potential harm that more readily available gambling might inflict on low-income families.
