NC Senate Passes Sports Betting Bill, Which Heads To House For Concurrence

Local North Carolina online sportsbooks are one step closer to becoming a reality. The State Senate voted to pass the HB 347 sports betting bill. As the measure got amended in the Senate committee it returns to the State House for concurrence. House Reps are expected to approve the amendments. That would send the legislation to Gov. Cooper’s desk.

North Carolina Sportsbooks Likely Inbound

Lawmakers voted in favor, 37-11, for HB 347. The bill brings online sportsbooks to North Carolina while also allowing for expanded retail sportsbooks outside of tribal casinos. The measure passed during its third reading earlier this morning.

Up to 12 mobile betting apps are permitted under the measure and up to eight local stadiums and arenas will be able to host sportsbooks. Regulations require retail sportsbooks to accept only cash wagers. Sportsbooks must be either on the property of stadiums and arenas or within a half-mile radius of the facility.

The House will review the amended measure early next week. House Reps are expected to approve the changes and advance the bill to the governor’s desk.

“We’re going to concur Tuesday and Wednesday,” said Tim Moore, House Speaker, to WRAL, adding that the decision wasn’t a reversal. “It wasn’t really a change. It was more me not reading the notes properly.”

Breakdown Of The Measure

Sportsbooks offer odds on professional and collegiate teams. HB 347 allows for in-state college betting as well. The legislation also regulates Olympics and eSports betting. The measure also regulates parimutuel horse racing betting.

North Carolina sportsbooks will pay an 18% tax on gross gaming revenue (GGR). The market projects to rake in more than $100 million 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 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 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)

Sports betting will launch within the first 12 months of the bill becoming law. Fans can expect sports betting to go live in 2024 following Gov. Cooper’s signature.