North Carolina embraces sports betting, sets launch date for March 11, 2024
In a significant development for sports enthusiasts and bettors in North Carolina, the State Lottery Commission has officially set March 11, 2024, as the launch date for legalized online sports betting. This decision follows the approval of the sports wagering bill signed into law by Governor Roy Cooper in June 2023.
This move to legalize betting on a variety of sports, including professional, collegiate, and amateur levels (excluding youth sports), comes in the wake of a 2018 Supreme Court ruling that opened doors for states to legalize sports betting. The commission, initially given until June 15 to get sports gambling operational, has accelerated the process, allowing for an earlier start.
Anticipating a substantial economic impact, financial analysts predict the gambling industry in North Carolina could generate around $1 billion in revenue within five years of the law’s effect. More than $70 million of this revenue is expected to benefit the state. A portion of these funds is designated to support youth sport programs and athletics at UNC system schools, as well as a new fund aimed at attracting major events such as sports tournaments and music festivals
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