Online Sports Betting Becoming A North Carolina Reality
Folks, I’ve got some news for you. There are two “evils” in the world (for some) that are going to be a part of life in North Carolina. Eventually, whether you like it or not, marijuana manufacture and distribution will be legal. And sooner than that, legalized online sports betting will be a thing in the Tar Heel State. I can almost see my mother’s ultra-conservative head about to explode with those two statements. Here’s the deal, regardless of how you feel morally (and I get it), the tax revenue of legalizing these two industries alone should make you want to be on the right side of history here.
Last week House Bill 347 passed in the North Carolina House of Representatives 64-45. It now heads to the Senate, which has already approved a sports betting bill in 2021. Further, Governor Roy Cooper has already said he will sign it. And he should. Legal sports betting could generate $28.6 million in the first 18 months. WOW! Here’s what the bill entails per Axios Charlotte:
- It allows betting on college sports, the Olympics, e-sports and pro sports for people 21 and older.
- It forbids betting on youth sports, high school sports and horse racing.
- The state will authorize 10-12 “interactive sports wagering operators” (sportsbooks) and tax them 14%.
- That money would go to athletic departments at public colleges and a new fund to attract major sporting events to the state, per WRAL.
- If signed into law, the measure would take effect Jan. 8, 2024 — the day of the College Football National Championship game.
Rep. Jason Saine, a Lincoln County Republican and lead sponsor of the bill, called sports betting “a form of entertainment, something that consenting adults with their own money should have the right to do,” as ABC 11 in Raleigh reported.