Sports Betting in North Carolina is Officially Legal

Sports Betting in North Carolina is Officially Legal

Sports Betting in North Carolina is Officially Legal After years of waiting, Sports Betting in North Carolina is Officially Legal after several attempts by lawmakers. According to the latest gambling news, yesterday House Bill 347 went in front governor Roy Cooper to receive his signature. The governor of North Carolina had no problem signing the final version of the bill. Thus, North Carolinians will be able to bet on sports as early as the first quarter of 2024.

According to gambling experts, the introduction of this sports betting bill was on March 13, 2023. However, it took several revisions by the Senate and the House before everyone could agree on it. The biggest. Thus, it got the approval of the North Carolina Senate 2 weeks ago where it got a 38-11 vote.

A week later, the bill went to the North Carolina House of Representative for a final revision and approval. During the final vote, HB 347 got the approval of the House passing it 69-44 in favor of it. From there, it went to the Governor’s office where Gov. Cooper did not object to making it into law.

Now that Sports Betting in Carolina is legal, a lot of work remains before residents can place their first bet.

Sports Betting in North Carolina is Officially Legal and will be Available by 2024

According to Bill 347, the North Carolina Lottery Commission will be in charge of sports betting in North Carolina. Therefore, it also includes getting sports betting ready to launch by the first quarter of 2024. However, they must first create and publish the online sports betting regulations by January 8, 2024. In addition, the state must also authorize sports betting operators to being take bets on June 14, 2024.

For those looking to open a sportsbook in North Carolina, they will have to pay a $1 million fee. The license will be good for five years and renew for another $1 million every 5 years. In addition, online bookmakers will have to pay 18% of their gross income with the state.

According to the Bill, 12 sports wagering licenses will be available and offer both mobile and online sports betting. Furthermore, the state expects to make $100 million in betting taxes within 5 years. North Carolina will use the revenue from betting for various athletic initiatives and programs. This includes $2 million annually to the Department of Health and Human Resources and $1 million to the North Carolina Amateur Sports.

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