North Carolina Passes Sports Betting Bill
Lawmakers in North Carolina voted to legalise sports betting in the state Wednesday when a 69-44 vote in favour of the expansion in gambling means now the clock is ticking on when players can place their first bet.
With Governor Roy Cooper already indicating he will sign the bill into law then it is over to the North Carolina Lottery Commission to work on a structure of guidelines and rules before accepting license applications for up to 12 licenses available.
Those successful applicants will then have to pay $1 million for the license and although the North Carolina Lottery Commission has up to June 2024 to start sports betting many believe it will be live at the beginning of the year.
The slight delay in legalising sports betting was the new votes by lawmakers on increasing the tax on gross betting revenues from originally 14% to 18%, with that projections are that the state will take somewhere in the region of $71 million a year once the industry is established by 2028.
