North Carolina has legalized sports betting, after Governor Roy Cooper signed House Bill 347 into law today.
The path to legalization has been winding, with efforts ramping up in the last few months. The bill was voted through by the state House last week, after it was voted through the state Senate one week prior.
It was first introduced on March 13. The bill in its final form was presented to the governor on June 9.
“This is certainly a bipartisan accomplishment, one of many over the last few years,” said Cooper at the bill’s signing today at the Spectrum Centre, Charlotte.
“This will certainly help North Carolina compete.”
Bill sets 14 June 2024 start date
North Carolina must publish regulations for online sports betting by January 8 2024. The state must also authorize sports betting operators to begin accepting wagers on 14 June 2024 – exactly one year from today.
The bill states that bets can be taken on college sports, esports and other sports matches authorised by North Carolina’s gaming commission.
Tax is set at 18% of each licence holder’s gross gaming revenue. This was previously 14%, but was later amended in the Senate.
From this tax, $2m will be given annually to the Department of Health and Human Services, to fund treatment and education for gambling addiction.
A total of $1m will be awarded annually to North Carolina Amateur Sports. A further $1m will be granted to the North Carolina Outdoor Heritage Advisory Council, and $300,000 will be given individually to a number of college athletic departments.
Industry reaction
The legalization of sports betting in North Carolina has been met with positivity. Gaming.com Group – which was founded in the state – said that North Carolina’s adult population of almost 11 million people “has the potential to become one of the largest sports betting markets in the United States”.
Charles Gillespie, chief executive at Gambling.com, said that this was a “full circle” moment.
“Our journey to building one of the world’s leading online gambling performance marketing companies has now come full circle with the legalization of online sports betting in North Carolina,” said Gillespie. “I applaud and congratulate the state’s General Assembly leaders and Governor Cooper for making regulated online sports betting a reality.”
Kevin McCrystle, Gambling.com’s chief operating officer added that the operator is in a good position to help other operators in the state grow.
“After traveling all around the world helping to expand regulated betting markets, it is amazing to finally be home in North Carolina and have access to legal online sports betting,” said McCrystle.
“Our talented team in North Carolina and across the globe are well positioned to help operators and customers in the Tarheel State succeed as the legal North American sports betting industry continues to grow and succeed.”
Picture credits Governor Roy Cooper, @NC_Governor on Twitter.