Online sports betting in North Carolina is on the verge of becoming a reality after the House of Representatives granted its second approval to amendments made by the Senate. With the bill receiving strong bipartisan support, it now awaits the signature of North Carolina Governor Roy Cooper to become law. This report delves into the key aspects of the bill, the changes introduced by the Senate, and the overall implications for online sports betting in North Carolina.
The Path to Legalization:
The bill, initially filed by Representative Jason Saine and a bipartisan group of lawmakers, aims to legalize online sports betting in North Carolina. It encompasses a wide range of sports and betting options, including horse racing, professional, college, and Olympic sports, as well as esports. This significant development is poised to offer North Carolinians a more convenient way to engage with their favorite sports and teams.
Senate-Introduced Amendments:
The Senate introduced crucial amendments to the bill. These changes include the addition of parimutuel horse racing betting, an increase in the tax rate from 14 percent to 18 percent, and the removal of promotional credit deductions from taxable gross gaming revenue (GGR). These amendments not only enhance the scope of legal betting options but also have financial implications that benefit the state.
Bipartisan Support:
The bill’s successful passage through the House of Representatives, with a 68-45 vote, underscores the broad support it has garnered across party lines. This bipartisan backing reflects the recognition of the economic and entertainment value that online sports betting can bring to North Carolina. Governor Roy Cooper has already expressed his support, further indicating the bill’s potential to become law.
Expanding Legal Betting:
The bill’s provisions extend beyond traditional land-based sports betting, which was legalized in North Carolina in 2021. By embracing online sports betting, the state is adapting to the evolving preferences of its residents and staying competitive with neighboring states that have already legalized similar forms of gambling. This expansion is expected to generate revenue and enhance the overall gaming experience for North Carolinians.
With the North Carolina House of Representatives granting its second approval to the Senate’s amendments, the legalization of online sports betting in the state is now within reach. The bill’s comprehensive approach to sports betting, along with the Senate’s strategic changes, aims to create a thriving online betting market. This momentous development not only aligns with the evolving gaming landscape but also offers opportunities for economic growth and increased entertainment options for residents.