Recently, the quest to bring the entirety of the United States into the sports betting fold continued as North Carolina’s government passed legislation to legalise online and in-person sports betting. In a landmark milestone for the state, Governor Roy Cooper sign the legislation into law, opening the door to legalised and regulated sports betting practices across North Carolina.
Now, there are eight ‘bricks and mortar’ locations across Charlotte and Raleigh where bettors can place wagers on sporting events, but for those that don’t want to travel, online sports betting is now being made legal in the state.
This doesn’t mean that sports betting markets are available immediately, though.
North Carolina Joins the Growth
In recent months, many more states have signed bills and laws that serve as tangible acceptence of sports betting practices. North Carolina is the latest example, but there’s still something of a road ahead. If you’re in-state and eager to start betting on sports, you’ll need to wait until at least the 8th of January, 2024 – and perhaps even later.
Despite some house members lobbying against the new gambling bill, it passed in the House with a ratio of 69-44 in favour of the new law. Now, online betting on ‘professional, college, and Olympic-style sports’ is going to be made available to adults aged twenty-one and over.
There was no mention of virtual sports or esports betting markets.
Speaking simply on the new legislation on a podcast, Gov. Roy Cooper said:
‘This is something that has been going on. The North Carolina taxpayers should get the benefit of this. It’s pretty good legislation now.’
Cooper has been a backer of legalising sports betting in the state for some time, but has faced some opposition in pushing the bill through in the past. When speaking on the reasons driving the change, Rep. Jason Saine, a chief sponsor of the bill, said:
‘At some point they (the House members) know that we’re losing money to other states, so I think that was a big driver in either changing minds or getting people that have not considered it before on board.’
Getting Involved
The move into online sports betting in North Carolina is being regulated by the North Carolina Lottery Commission (NCLC). There will be twelve licenses to hand out, each of which will see prospective operators submit to strict scrutiny and hand over $1 million in application fees.
This new legislation would set the sports wagering tax rate at around 18% of gross betting revenue minus winnings. There are now estimations circulating that suggest around $71 million will be accrued annually by mid-2028 as operators establish a base of operations in the state.
It was also confirmed that most of the revenue from sports wagering taxes will go to local, regional, and state sports initiatives, including programs at UNC.
