North Carolina is just one signature away from becoming the third state this year to legalise sports betting.
The North Carolina House voted to approve amendments to HB 347 passed by the Senate, sending the sports betting legalisation to Gov. Roy Moore for his signature.
Moore, who has 10 days to do so, has said he will sign the bill.
The North Carolina Education Lottery Commission is developing licensing processes and rules for the operation of the state’s sports betting market and will regulate it once it goes live, which could happen as soon as January 8.
Commissioners will also approve what events North Carolinians can bet on.
The legislation authorises up to 12 online sportsbooks in the state with each five-year license requiring a $1 million fee.
Up to eight in-person sportsbooks can open at MLS, NASCAR, NBA, NFL, NHL, NWSL, and PGA Tour facilities. Language clarifying this was one of the Senate’s amendments.
Sports betting revenue will be taxed at a rate of 18 per cent, also the result of a Senate amendment which raised the rate from 14 per cent.
The Senate also added a provision prohibiting operators from deducting promotional spending from their taxable revenue and one to include online horse racing among legal betting options.
North Carolina legislators legalised in-person sportsbooks at three tribal casinos in 2020.
Source: Fantini's Gaming Report
