North Carolina Gov. Roy Cooper Signs HB 347 To Legalize Sports Betting
Gov. Roy Cooper officially signed the North Carolina online sports betting into law Wednesday. With his signature, both expanded retail sportsbooks and the best sports betting sites and apps will become regulated. The measure passed in both legislative chambers this year and was concurred in the House of Representatives just last week. Now the North Carolina Lottery Commission is tasked to work towards an official launch of NC sports betting.
Online Sportsbooks Coming To North Carolina
The measure, HB 347 allows for up to 12 online operators to launch in the Tarheel State. Sportsbooks will be able to offer odds on professional and collegiate teams, including in-state colleges. North Carolina will also be one of the few markets to allow for Olympic and eSports betting.
During the signing ceremony, Gov. Cooper stated “This is a historic moment for the state of North Carolina. And this will benefit our economy for generations to come.”
It is estimated that sportsbooks in North Carolina will bring in approximately $100.6 million in taxes annually by FY 2027-2028. The Tarheel State is home to several professional teams and major collegiate programs. This will lead to a major push in revenue with locals engaging in betting.
“This is truly a momentous occasion for our state, for our athletes, for our teams,” said Jason Saine, House Rep. and bill sponsor. “For anyone in the state.”
The passing of this bill represents a bipartisan push to regulate sportsbooks. This was a focal point during the signing ceremony from lawmakers. With online betting already taking place illegally in the state, lawmakers from both parties saw an opportunity to better the state.
“We have so many opportunities to help the state with this bill,” continued Saine. “And it didn’t come just because one legislator decided that they needed to run a bill. It was all about teamwork.”
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When Will NC Sports Betting Start?
The North Carolina Lottery Commission has already begun working towards the impending launch. HB 347 gives the commission up to 12 months to launch the market, meaning June 2024 is the latest sportsbooks must go live.
With there being a major interest in sports betting in North Carolina, fans can expect a push for a sooner launch. GeoComply reports more than 1.5 million transactions from approximately 155,000 unique accounts attempted to wager in NC.
Now that the bill has been signed into law, the final countdown for the market has begun. North Carolina online sportsbooks are on the horizon.