Although Tar Heel State residents saw UNC’s March Madness odds shrink amid its run to the 2022 title game against Kansas, they were unable to wager on Hubert Davis’ team because of the absence of full-fledged legalized sports betting. Below, you’ll find out where legal online North Carolina sports betting currently stands.
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North Carolina Sports Betting: Deadline Set For June 30
The North Carolina sports betting bill (Senate Bill 688) passed the Senate in August 2021, and it included mobile sports betting, but there has been a lack of movement on the House’s side of the table since the session began on May 18.
According to Legal Sports Report, the House was expected to sign the bill within the first three weeks of the most recent conversations. Keep in mind, it made its way through the first House committee in the fall.
What Are The Next Steps?
Per a local newsletter, the House will presumably pull through if a separate bill is also passed. This one includes the notion that the purposed sports betting tax rate will jump from 8.0% to 14.0%, along with the licensing fee increasing from $500,000 to $1 million. The latter is necessary for sports betting operators to establish themselves in any state.
Assuming these points are agreed upon, mobile sports betting in North Carolina is projected to generate between $16 and $48 million — double the amount with the prospective tax rate increase — via Rep. Jason Saine. Even with the forecasted 6.0% spike, it would still find itself underneath the average listed sports betting tax rate (18.2%) and way below the highest figure (Rhode Island, 51.0%).
“We’ve been very intent on making sure that we have worked with supporters of the bill on all sides,” Saine said on Tuesday. “Obviously, there are many moving parts to the governance of sports betting and we have been cautious not to release the language too quickly, opting instead to better perfect the bill.”
North Carolina Gov. Roy Cooper acknowledged the significance of legalized sports betting — juxtaposed with illegal routes — nearly a year ago to the day.
“With the internet, people are doing it (online sports betting), and it’s very difficult for law enforcement to stop it,” Cooper said in July 2021. “So, we might as well control it and get the revenue from it.”
Where Is North Carolina Sports Betting Legal?
In-person sports betting is allowed at two tribal-owned casinos within the far western portion of the state. The timeline for an online North Carolina sports betting launch across the entire state, assuming the House passes this version of the bill, is still unknown — however.