North Carolina Lawmakers To Discuss Online Sports Betting Bill Next Week
After months of anticipation, North Carolina lawmakers will finally discuss a bill to legalize online NC sports betting next week. One state lawmaker even anticipates mobile wagering could be up and running this fall.
Senate Bill 688 has been stuck in the House Judiciary Committee since passing through the Senate in 2021.
With the legislative session ending on June 30, it appears NC online sports betting still has life.
New changes coming to the mobile betting bill for North Carolina
According to State Rep. Jason Saine, online sports betting could be active in the Tarheel State later this fall.
“September, October, I don’t think it’s unreasonable. I think it’s probably a little later. A lot o f sports right at the end of the year, first of the year, so hopefully, we’re there. Again, I’d hate to lose that revenue. But we’re not going to go too fast to where we can’t handle it.”
North Carolina will have to work diligently if the state wants to meet a fall deadline. There are a number of checks and balances that must be implemented, including rules and regulations. There is a chance such a decline could be met, but it would be a stretch.
Significant changes will be coming to SB 688, including increased fees and tax rates paid by sports betting operators.
New language features:
- $1 million for a 5-year license
- $1 million license renewal fee
- 14% sports betting tax rate
- Supplier licenses fee $30,000
- Allow retail sports betting at professional sports stadiums
SB 688 will create 12 mobile sports betting licenses for qualified platforms. The NC Lottery Commission will review operator applications and give final approval.
Experts anticipate that operators such as DraftKings, FanDuel, and BetMGM will enter the NC gaming market.
The current state of retail sports betting in North Carolina
Retail sports betting is currently available at two locations in North Carolina.
- Harrah’s Cherokee
- Harrah’s Cherokee Indian Valley
Both casinos are owned and operated by the Eastern Band of Cherokee Indians.
A third, a $600 million casino owned by the Catawba Nation, is currently under construction near Kings Mountain.
For now, customers seeking to place online wagers must travel to Tennessee and Virginia.