On July 16, 2021, North Carolina Governor Roy Cooper signed a bill that will allow online sports betting in the state. This is a significant development for sports fans and the professional sports industry, as it opens up new opportunities for revenue and engagement.
The bill, known as Senate Bill 688, allows the Eastern Band of Cherokee Indians to operate online sports betting at their two casinos in the western part of the state. The bill also allows for up to 12 additional licenses to be issued to other entities, such as professional sports teams or companies that partner with them.
This move comes after years of debate and discussion about the legalization of sports betting in North Carolina. Supporters of the bill argued that it would bring in much-needed revenue for the state, while opponents expressed concerns about the potential for gambling addiction and other negative consequences.
However, with the passage of this bill, North Carolina joins a growing number of states that have legalized sports betting in recent years. According to the American Gaming Association, 30 states and the District of Columbia have now legalized sports betting in some form.
For professional sports teams, this is an exciting development. Online sports betting provides a new way for fans to engage with their favorite teams and players, and it also creates new revenue streams for teams and leagues. In states where sports betting is already legal, such as New Jersey and Pennsylvania, professional sports teams have already begun partnering with sportsbooks to offer promotions and other incentives to fans.
In North Carolina, it remains to be seen which teams or companies will apply for licenses to operate online sports betting. However, with the potential for significant revenue and engagement, it’s likely that many will be interested in exploring this new opportunity.
Of course, there are still concerns about the potential negative consequences of sports betting. Addiction and problem gambling are real risks, and it’s important for states to take steps to mitigate these risks. North Carolina’s bill includes provisions for responsible gambling, such as self-exclusion programs and funding for problem gambling treatment.
Overall, the passage of this bill is a positive development for sports fans and the professional sports industry in North Carolina. It opens up new opportunities for revenue and engagement, and it brings the state in line with the growing trend of legalizing sports betting across the country. As with any major change, there are risks and challenges to be addressed, but the potential benefits make this a move worth celebrating.
