Around 3 years ago, the Supreme Court struck down a law that prevented sports betting throughout the country. Today, there are over 20 states that offer sports betting, and more are in the process of legalizing sports betting in their states. Now, the North Carolina sportsbook industry is another step closer to becoming a reality. A new bill aiming to legalize sports betting in North Carolina just passed the Senate’s Judiciary Committee with bipartisan support.
A recent poll in the state shows that a majority of people in NC are in favor of legalizing sports betting. 54% are in favor, with 46% against. Of course, the bill that proposes to allow North Carolina sportsbook operators to run is still far from complete. But many of those in the sportsbook pay per head business believe that it will follow soon. States can collect millions in tax revenue as well as licensing fees from sportsbook operators, should there be a regulated market.
North Carolina Sportsbook Industry
Currently, the bill in in the Committee of Commerce and Insurance. Once it passes, it will then move on to the Senate Rules Committee. Once the bill passes the Senate, the House can now discuss this bill. The House does have a companion bill, however there is little to no movement on their end. If the bill passes, it could pass into law as early as October 1. It would have been more ideal to welcome the opening of the Football season in September, but later is better than never.
The bill, Senate 688, aims to allow people 21 and older to bet on professional and collegiate sports, amateur sports, and eSports. 10-12 operators can apply for a license, with a $500,000 application fee. Residents can bet online or at major sports venues. The North Carolina Lottery Commission will be the regulatory body for sports betting in the state.