North Carolina House Set For Final Vote On Sports Betting Bill Today
UPDATE: The North Carolina House of Representatives voted to concur HB 347 on the third reading 68-45. The bill now heads to Gov. Roy Cooper’s desk where he is expected to sign.
ORIGINAL: Today at 2 p.m. could mark a major milestone in the North Carolina sports betting world. The House of Representatives will meet for a final discussion on the amendments to HB 347 by the State Senate. This will mark the third reading by the House, with the second reading seeing a favorable vote for concurrence. This is the final legislative phase to determine the fate of North Carolina sportsbooks.
After which, Gov. Roy Cooper can sign it into law or veto the measure. Cooper has given his support for bringing mobile betting apps to the Tar Heel State in the past.
North Carolina Inches Towards Sportsbook Launch
House reps voted 67-42 in favor of the Senate’s amendments to the measure. These amendments include raising the sports betting tax rate to 18%, removing the requirement for facility sportsbooks to close eight hours before/during collegiate games, and amending the timeframe for sports betting to launch following the bill becoming law.
With the earlier readings showing a positive swing for the measure, locals should be optimistic about today’s reading. Lawmakers took little time to vote on the measure during the second reading. Fans can expect more deliberation later today.
During the second reading, House Speaker Tim Moore stated that more debate on the measure would be allowed. Rep. Pricey Harrison expressed a desire to deliberate on the manner during the second reading. Harrison has been an opponent of the measure since its first time around in the House.
Even with a potential debate insueing, the House has shown it is favorable for sports betting in North Carolina.
A Glimpse At The Potential Sports Betting Market In NC
HB 347 allows for up to 12 online sportsbooks to go live in North Carolina. Sports betting tax revenue will be divided amongst local colleges and departments. An estimated $100.6 million in tax revenue is expected annually by FY 2027-2028.
Sports Betting Tax Breakdown North Carolina:
- Two million dollars ($2,000,000) annually to the Department of Health and Human Services for gambling addiction education and treatment programs
- One million dollars ($1,000,000) annually to the North Carolina Division of Parks and Recreation for grants of ten thousand dollars ($10,000) per county for the purchase of youth sports equipment, facilities upgrades, and improvements
- Three hundred thousand dollars ($300,000) annually shall be appropriated to each of the institutions listed in this subdivision to support collegiate athletic departments
- One million dollars ($1,000,000) annually to the North Carolina Outdoor Heritage Advisory Council
- Ten percent (10%) annually to be distributed equally among local Historical Black Colleges and Universities (Elizabeth City State University, Fayetteville State University, North Carolina Agricultural & Technical State University, North Carolina Central University, University of North Carolina at Asheville, University of North Carolina at Pembroke, Winston-Salem State University)
Professional and collegiate sports wagering is authorized under the measure. In-state colleges are also permitted to be wagered on in North Carolina. NC sportsbooks would be allowed to host odds for the Olympic games and eSports as well.
In addition to mobile betting, retail locations outside of tribal casinos are also permitted. Alongside parimutuel horse racing betting as well. North Carolina will be a fully realized sports betting state with a favorite vote today.