North Carolina budget reduces number of online sports betting licenses
North Carolina Gov. Roy Cooper (D) said he plans to sign the 2023-25 North Carolina budget bill without his signature that includes provisions that would change the state’s future regulatory framework for commercial sports betting.
The North Carolina and Cooper Legislatures passed House Bill 347 earlier this year. The sports betting law empowers the North Carolina Lottery Commission to enact regulations that expand gambling, which takes place primarily online but also allows for in-person betting at certain sports venues.
The sports betting measure authorizes the Lottery Commission to issue up to 12 online sports betting licenses once its application guidelines and operating conditions are finalized. The law allows online gambling to begin as early as January 8, but no later than June 14, 2024. Lottery commissioners and hired consultants and advisers are working to finalize regulatory conditions in hopes of facilitating the launch of sports betting as soon as possible.
The state's delayed budget proposal was originally scheduled to be submitted in June but did not pass the state Legislature until this month — with casino discussions largely cited as the reason for delaying the spending plan — raising concerns about the rulemaking process.
Guaranteed Cuts for Sports Teams and Venues
Senate Republicans had hoped to include commercial casino liberalization in the budget bill. But Republican leaders ultimately “capitulated to the effort” after House Speaker Tim Moore (R-Cleveland) told Senate President Pro Tempore Phil Berger (R-Rockingham) that he did not have the necessary votes.
Casino considerations have stymied progress on the budget and have been criticized by Cooper and many Democrats in Raleigh. Local leaders in the area where Berger and Moore planned to build the casino were also outraged.
While Berger couldn't get his way on the casino front, Republican lawmakers included language in the budget that changes how the lottery must enact its rules and how interested sports betting operators must apply them. On top of that, sportsbooks are now required to enter into a “written designation agreement” with a qualified sportsbook operator.
The changes appear to be aimed at giving "sports teams and venues" a guaranteed share of the sports betting market.
Sports Betting License Reduction
Under the original sports betting legislation, the state's major professional sports venues were eligible to conduct retail sports betting through self-service betting kiosks and computer counters. Your sports betting operations can only be conducted when a live event is taking place.
Qualifying venues include U.S. Bank Stadium, home of the NFL's Carolina Panthers, Spectrum Center, home of the NBA's Charlotte Hornets, PNC Arena, home of the NHL's Carolina Hurricanes, and WakeMed Park, home of the NWSL's North Carolina Courage.
The sports betting law also qualifies Charlotte Motor Speedway and North Wilkesboro Speedway, which host NASCAR races annually and two annual stops on the PGA Tour - Sage Fields Country Club and Quail Valley Club. The latter three venues are "temporary" retail sports betting sites that only operate when hosting NASCAR or PGA Tour-sanctioned events.
The budget stipulates that online sports betting providers will only be eligible for a license if they have a partnership with one of the above-mentioned providers. NASCAR and the PGA Tour may also partner with outside sports betting providers. Each venue and NASCAR/PGA Tour will be limited to working with just one interactive sports betting operator, meaning the state's initial approved maximum of 12 online sports betting licenses is now believed to have been reduced to 10.
At a meeting this week of the North Carolina Lottery Commission, regulators said they were still considering the budget's impact on sports betting rules.
Legal sports betting is already available in the Tar Heel State, but only in person at the state's three tribal casinos.
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Source: www.casino.org
