North Carolina Could Be Joining Sports Betting Business

Advocates of establishing a sports betting market in North Carolina remain confident that Senate Bill 688 will give operators the green light to launch their sportsbooks in the Old North State. Last summer, lawmakers in the state’s upper chamber approved the content of the proposed legislation by 26 votes to 19. Now, local lawmakers suggest a similar result will transpire when the question is put to the upper chamber at some stage over the next six weeks.

Indeed, internal sports betting stakeholders will want this vote to arrive sooner rather than later. On even years, North Carolina’s legislative session only lasts for a month and a half, whereas odd years facilitate a full-year meeting programme. Therefore, if the state is to see sportsbook activity before the end of the year, the hard yards will need to be put in before the end of June. Nevertheless, there is a cross-party consensus on the predicted result.

‘’I don’t think it’ll be a close vote’’ proclaimed Republican representative Jason Saine. Governor Roy Cooper, the Democrat leader of the House, has already thrown his weight behind the bill. Anxious to divert funds currently being generated by unregulated operators towards the local economy, Cooper announced, ‘’The issue is will North Carolina be on the cutting edge for the technology jobs and other employment that it will create and be able to get state taxpayers their cut, or are we going to let it happen all around us? I think it’s time for us to step up and do it’’.

The bill articulates ten to twelve licenses will be procured for prospective operators, who will be required to pay an initial $500k fee for the privilege of running a sportsbook. Three years ago, Gov. Cooper authorised in-person sports betting at tribal casinos. These venues will also be given the opportunity to apply for a mobile license.