Legalized sports betting in the state of North Carolina

Sports Betting Bill Signed Laws & Regulations

North Carolina Governor Signs Sports Betting Bill

By Lisa Spencer Senior Editor Updated: 26 June 2023

Lisa Spencer Senior Editor

As a Senior Editor at Betting.US, Lisa Spencer is a valuable member of our expert team. With a Master’s degree in Applied Mathematics, Lisa is adept in gambling theory and analyzing odds. She contributes by writing online sportsbook reviews and finding competitive markets to help our readers make an informed choice.

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Mobile sports betting has now been legalized in North Carolina, after Gov. Roy Cooper signed legislation permitting up to 12 online sportsbooks in the state. What’s more, the law also permits the professional sports venues in North Carolina to offer sports betting.

House Bill 347 passed through the North Carolina General Assembly on June 6. It states that all interactive sportsbooks in the state must pay a $1 million fee to operate, and this payment will allow them to offer services in North Carolina for five years.

In terms of taxation, online sportsbooks will pay 18% of their gross income to the state. Speaking about this, Cooper stated:

This is a historic moment for the state of North Carolina and this will benefit our economy for generations to come.

The Lottery Commission will receive some of the tax money to cover its costs, after which the money will be split between gambling addiction treatment and education and college and youth athletics. 13 college athletic departments will receive up to $300,000 per year, while $1 million is allocated to a grant program to expand opportunities for children to engage in sports. Gambling treatment and education will receive $2 million per year.

But while the news that the governor has signed the bill is great, there is a caveat: online betting won’t commence until at least January 8, 2024. Therefore, gamblers in North Carolina will miss out on betting on most of the next NFL season.

Professional Sports Venues Qualify for Sportsbooks

All professional sports venues in North Carolina will now be able to apply for in-person betting, thanks to HB 347. Seven venues will have the chance to apply for a betting license, including the Bank of America Stadium, home of the Carolina Panthers, and the Spectrum Center, home of the Charlotte Hornets.

The other venues eligible to apply for a license are PNC Arena in Raleigh, Charlotte Motor Speedway, WakeMed Soccer Park in Cary, Sedgefield Country Club in Greensboro, North Wilkesboro Speedway, and Quail Hollow Country Club in Charlotte. Applications for licenses will be reviewed by the North Carolina Education Lottery Commission – the same organization that will review applications for online sportsbook licenses.

Sports Betting to Stimulate Economy

The introduction of online sports betting should be a great boost to the economy of North Carolina. As with most parts of the country, there have been considerable economic woes in the state over the past few years, and the money from taxation will go some way towards addressing this.

North Carolina already offers in-person betting, but the introduction of mobile betting will take income to a new level. Other states with both in-person and mobile betting have shown that mobile betting is much more popular, meaning that it will contribute much more to the state’s finances.

The legalization of online betting should also help to combat illegal betting in the state, which Gov. Cooper admits is currently happening via offshore websites. This will provide more protection to bettors, as they’ll be betting at regulated sportsbooks.