North Carolina Could Have Legal Online Sports Betting by Next Super Bowl.

The State of North Carolina has historically been conservative and restrictive about allowing any forms of gaming within its borders.

Currently the only forms of gambling that are allowed in the state are at the three physical casinos, operated by two American Indian tribes. The only other legal gambling in North Carolina is a simple lottery that started back in 2006.

But the state is now facing a revolution in is sports betting world. New legislation will enable sports and horse racing betting to become completely legal across NC early in 2024.

North Carolina will probably have similar sportsbook promos as Louisiana.

Governor Roy Cooper recently signed the new laws that will free up betting opportunities in America’s ninth-largest state. It will mean that regulated sports betting could even be available for state residents just in time for next year’s Super Bowl.

The Democratic governor emphasised the point by signing the new laws at Charlotte’s Spectrum Centre, home to the NBA’s Charlotte Hornets.

The Centre itself could become home to a new sportsbook operation. The law designated that in-person betting operations will be allowed at or near professional sports venues in the state from next year.

The new law has been given final approval in the Republican-controlled General Assembly and means that betting could begin as early as January 8 in 2024.

The latest that sports betting will be launched is by mid-June.

The bill’s supporters say the gaming expansion will bring new jobs and financial benefits. “This will benefit our economy for generations to come,” the Governor told reporters.

North Carolina Lottery Commission is now able to issue up to 12 interactive sports betting licenses. These can allow mobile and online sports betting for customers who will need to create accounts with these new operators.

In addition, anyone aged 21 or older will be able to make cash bets on pro, college or Olympic-style sports in person at the eight possible betting venues.

These will be located near the state’s stadiums, arenas, golf courses or racetracks.

The new laws means that North Carolina will become America’s 29th state with authorised legal mobile sports betting.

It all follows a decision by the U.S. Supreme Court in 2018 which allowed states to legislate for sports betting within their territories. Since then about half of the US states have approved mobile sports betting.

Several more, including Georgia, Texas, Missouri, Vermont and Kentucky, are considering changing their laws this year.

Polls showed that a little under half of the North Carolina voters were in favor of legalizing mobile sports gambling. But around 20% more said they didn’t know enough about the issue.

Figures seemed to show that the new laws have stronger support from men, from those who live in urban areas and from voters who describe themselves as more liberal.

The neighboring states of Tennessee and Virginia already allow mobile sports betting within their borders. This has previously meant that North Carolina residents have been crossing the state lines simply to place a sports bet.

The law-makers have now decided that regulating and taxing sports betting is the best way to control all the gambling in the state. Many believed that it would only be forced to flourish underground, unregulated and untaxed without these changes.

Conservatives in the state had won a similar vote on sports gambling legislation last year by just one vote. The lobbyists for legal sports wagering kept pressing their case however – and this year they have won enough support to pass the bill in the legislature.

The North Carolina law will enable the authorities to tax sports wagering at 18% of gross betting revenue (minus distributed winnings). Experts estimate that this tax will eventually generate more than $100 million a year for the state purse.

It is expected that much of those new tax revenues will be directed go to sports programs in the state, for example grass roots sports facilities in schools.

Each of North Carolina’s 100 counties is in line to receive $5,000 from the proceeds for their youth sports development.

The law requires the state Lottery Commission to authorize at least 10 but no more than 12 licenses to new sports betting operators. A five-year license will cost the new operators $1 million.

Both the Eastern Band of Cherokee Indians and the Catawba Nation are federally recognized tribes in North Carolina and they would also be allowed to obtain licenses.

The new North Carolina bill means that sports fans in the state may to be able to place a bet on next year’s Super Bowl from their smart phones, without crossing the border to a neighboring state to do so.

North Carolina’s own sports betting operations could begin from January 8 – and the 2024 Super Bowl is set for February 11.

Share on Facebook

Tweet

Follow us