In March, the North Carolina House of Representatives passed HB 347 by a wide margin. It’s a bill to legalize mobile sports betting in North Carolina. However, it has yet to be discussed in any Senate committee.
Despite the lack of action, it’s too early to worry about the bill’s chances of becoming law. The legislative session in North Carolina will continue through the end of August, providing lawmakers ample time to discuss the sports betting bill.
The state’s crossover deadline for bills to move into the opposite chamber has already passed, meaning senators can now focus on moving the bill forward. Therefore, the mobile sports betting bill will receive Senate attention in the near future.
The Senate has not yet scheduled a time to discuss mobile sports betting, but supporters are optimistic that the bill will pass despite the lack of a concrete deadline.
While three American Indian casinos in the state currently offer legal sports gambling, North Carolina remains an underutilized market compared to the more than 30 states in the country that permit some form of in-person or online sportsbooks, including neighboring Virginia and Tennessee.
It’s Been a Long Sports Betting Battle in The Tar Heel State
Lawmakers attempted to legalize mobile sports betting in the North Carolina General Assembly last year, but were unsuccessful. However, things are looking much more promising on their second attempt.
If approved by the state Senate, 10 to 12 licenses for online sportsbooks would be granted, and these companies would be taxed at a rate of 14%. According to lawmakers, this could potentially generate significant revenue for North Carolina, as the industry is already valued at $1.7 billion in the state.
According to Gov. Roy Cooper’s proposed state budget, the state will make $60 million from sports wagering in the fiscal year 2024–2025. However, the budget staff paints a more cautious picture, projecting a $21 million increase in net revenue in 2024–2025, which will triple in three years.
On top of that, operators would have to pay an application fee of $1 million to acquire a license.
What The North Carolina Sports Betting Bill Allows
If the legislation passed, North Carolinians who are at least 21 years old would be able to place wagers on professional, college, and some amateur sports, as well as horse racing. Betting on high school and youth sports is prohibited.
Sports betting would launch in January.
The Bill Addresses Gambling Addiction Concerns
Despite the potential financial benefits, experts warn of the dangers of gambling addiction associated with sports betting. To address this concern, lawmakers plan to implement measures to protect consumers, such as requiring sports betting operators to display information on problem gaming resources. “It’s time that we regulate that,” said Rep. Sarah Crawford.
So, the Senate may not be talking about it at the moment, but it appears all signs are pointing to legalizing sports betting in North Carolina. The only real question is will it happen sooner, or later this year?
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