North Carolina Sports Betting Bill On Verge of Passage After 1st Senate Vote

Online sports betting has spread rapidly in the five years since PASPA was overturned. While a handful of states still are struggling to pass legislation, is one step closer to legalization.

The latest proposed legislation (HB 347) passed its first Senate vote by a count of 38-11 on Wednesday. The bill, which passed the House in March by a 64-45 vote, will receive another vote on Thursday before being sent back to the House for concurrence (a process in which they review and agree to the new bill in light of amendments).

HB 347 will allow up to 12 online sportsbooks in North Carolina, which currently allows retail sports betting at two Native American casinos. A bid to bring online betting to the state fell one vote short of passage in the House last year. That gave the push legalize online betting a boost heading into this year’s session, which runs until August 31.

The general consensus seems to be that the will be available in the very near future. 

North Carolina Sports Betting Bill Details

The House bill allows up to 12 online operators. It would permit betting on college events, something that was no included in the bill that failed last year. The state tax rate on net gaming revenues for the books would be 14%. Operators would pay $1 million for a five-year license. 

A Senate amendment seeks to raise that tax rate to 18%. The Senate would also prohibit operators from deduction promos and credits. That is a trend that has been adopted elsewhere and cuts into the operators’ net profits. It would allow retail sites to open off Native American lands and take cash wagers. And would introduce parimutuel wagering on horse races. 

Those retail betting sites are those that play host to a NASACR Series race, a pro golf tournament with more than 50,000 live spectators. And those facilities that are home to MLB, MLS, NBA, NFL, NHL or NWSL franchises. The NBA Charlotte Hornets, NHL’s Carolina Hurricanes, and NFL Carolina Panthers all call the Tar Heel State home. 

The House bill being discussed calls for mobile betting to begin as soon as January 8, 2024, but the Senate Finance Committee recently approved an amendment that could push the start date back no later than 12 months after the bill is signed into law. 

North Carolina Sports Betting: What Happens Next?

The full Senate could vote on the bill as soon as Wednesday. The gap between betting legislation being signed and the first bets being made have varied widely by state. Some states, like New Jersey and Pennsylvania, had already enacted betting legislation before the Supreme Court’s 2018 PASPA decision that allowed the practice to go nationwide. 

Massachusetts is the most-recent state to launch both mobile and retail betting. Its sports betting law was signed last August. The first retail bets were taken on January 31. Mobile betting began there on March 10, seven months minus 1 day after sports betting was formally legalized. 

The bill that passed the House allows for retail and mobile sports betting. Betting is limited to those 21 and over. The bill does not affect the current betting allowed on Native American lands. Betting on professional, college, electronic, and amateur sports would be allowed, in addition to any other event approved by the State Lottery Commission.

The bill allows bettors to use, among other tools, credit cards, prepaid cards, foreign currency, and crypto/virtual currency to fund their accounts. 

The sponsor of the House bill, Rep. Jason Saine, told WRAL TV that he’s been in communication with his colleagues in the Senate and is optimistic that the two sides will be able to pass legislation this session.