Online Sportsbooks Bill In North Carolina Reaches Senate Floor

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Written By Giovanni Shorter | Last Updated
North Carolina Online Sportsbooks

North Carolina lawmakers have advanced HB 347 to the Senate floor for a vote. The bill was amended and approved by the Senate Finance Committee and Senate Rules and Operations Committee. If the bill garners approval in the Senate, and concurrence in the House, the measure heads to Gov. Roy Cooper’s desk. If signed, online sportsbooks in North Carolina will be legalized.

North Carolina Senate Committee Amends House Bill

The North Carolina Senate Finance Committee met yesterday to discuss HB 347 and in the process amended the measure. Legislators removed historical horse racing from the bill. Also removed was the requirement for facility sportsbooks to close eight hours before/during collegiate games.

Another amendment was to the timeframe for sports betting to launch following the bill becoming law. Retail and online North Carolina sportsbooks must launch no later than 12 months after the act becomes law. Initially, the timeframe specified a Jan. 8, 2024, launch date.

These amendments received unanimous approval and the measure got a favorable vote in the Senate Rules and Operations Committee. Now, the Senate will vote today when they reconvene at 4 p.m. EST.

What Sports Betting Could Look Like In NC

The potential sports betting market in North Carolina projects as a massive one. The bill set the sports wagering tax rate at 18% on gross gaming revenue (GGR). With this rate, fiscal estimates show the market raking in roughly $22.1 million for the fiscal year 2023-2024. By FY 2027-2028, the market projects to rake in $100.6 million.

Several entities would divvy up tax revenue: youth sports, local universities, HBCUs, grants for the Outdoor Heritage Advisory Council, the Division of Parks and Recreation, and problem gambling efforts.

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)

Online sportsbooks, retail sportsbooks, and parimutuel horse racing also received approved under the measure. Statewide mobile betting apps will be accessible within state borders. Sportsbooks could offer odds on pro teams, collegiate teams (in-state included), Olympic games and eSports.