Before the start of this year’s legislative session, lawmakers teased about passing a North Carolina sports betting bill. The session started a couple of weeks ago and lawmakers haven’t discussed the bill yet. Also, the session will end on June 30.
The House Judiciary Committee held a session on June 2. However, they didn’t discuss the online sports wagering bill. Thus, it would be difficult to put the topic on lawmakers’ agenda.
At present, retail sports wagering is accessible in western North Carolina at two tribal casinos. A third tribal casino is purportedly wanting to learn how to be a bookie and launch its very own sportsbook in North Carolina. However, nothing has happened to it yet. Online sports wagering is totally unlawful in the state today, yet with the proposed sports wagering charge, SB 688, North Carolina could work a completely practical web-based sports wagering market.
Future of North Carolina Sports Betting
The bill calls for ten to twelve mobile operators to get licenses in the state. Also, mobile sports betting will have a tax rate of 8 percent of their adjusted gross income. It is too early in the legislative process as the bill needs to go through various committees before it becomes a law. In addition, the tax rate can still change in the final version of the bill.
The North Carolina Lottery Commission would endorse and permit all operators. Also, it would regulate all operations. Possible mobile sportsbook operators in the state are FanDuel, BetMGM, and DraftKings.
According to political news reports, the North Carolina Senate approved Senate Bill 688 in late 2021 After that, it went to the House Commerce Committee. The committee endorsed it to the House Judiciary Committee. Betting software development experts are expecting lawmakers to put the bill into the current legislative agenda.
All things considered, supporters of sports betting in North Carolina are hopeful that it could launch during the NFL season. Assuming that is the situation, they need to legitimize and quick. On average, it takes five to six months to launch online sportsbook market after the legalization process.