On July 15, 2021, North Carolina Governor Roy Cooper signed Senate Bill 688 into law, legalizing online sports betting in the state. This bill allows for the creation of a new regulatory body, the North Carolina Gaming Commission, which will oversee and regulate all forms of sports betting in the state.
Under this new law, North Carolina residents and visitors will be able to place bets on professional and college sports teams through licensed online sportsbooks. However, betting on high school sports and esports will remain illegal.
The bill also includes provisions for revenue sharing between the state and the sports betting operators. The state will receive 8% of the net revenue generated by online sports betting, with the remaining 92% going to the operators.
This new law is expected to generate significant revenue for the state, with some estimates predicting up to $50 million in annual revenue from online sports betting alone. This revenue will be used to fund education and other public services in North Carolina.
However, it is important to note that online sports betting will not be available immediately. The North Carolina Gaming Commission must first establish regulations and licensing procedures for sports betting operators, which could take several months.
Additionally, not all forms of online gambling are legal in North Carolina. Online casino games and poker are still prohibited under state law.
Overall, the legalization of online sports betting in North Carolina is a significant development for the state’s economy and for sports fans. It provides a safe and regulated way for individuals to engage in sports betting while generating much-needed revenue for public services.
