A North Carolina sports betting bill will continue its trek through the state’s House of Representatives on Tuesday, March 21.
The North Carolina House Committee on Commerce will hold a hearing at 3 p.m., to discuss HB 347, a proposal to legalize North Carolina sports apps. The sponsors are Republicans Rep. John Saine and Rep. John R. Bell IV and Democrats Rep. Zack Hawkins and Rep. Ashton Wheeler Clemmons.
The bill would legalize mobile sports wagering throughout the state on professional and collegiate sports as well electronic sports, some amateur sports, and any other event approved by the Commission.
The bill lists a 14% tax rate on gambling operators. The amount that sportsbooks can deduct for bonus and promotions would taper off until 2027 when the allowance would be discontinued.
Licenses, which would be issued for five years, would be: $1 million for an interactive sports wagering license; $50,000 for a service provider license and $30,000 for a sports wagering supplier license.
Gamblers would have to be at least 21.
How Proposed Revenue Would Be Distributed
The allocation of tax proceeds for HB 347 would go toward:
- Addressing problem gambling, $2 million.
- Recreation at the county level for youth, $1 million.
- Appropriations of $300,000 each to Elizabeth City State University, Fayetteville State University, North Carolina Agricultural & Technical State University, North Carolina Central University, University of North Carolina at Asheville, University of North Carolina at Pembroke and Winston-Salem State University.
- Funds of $1 million to North Carolina Outdoor Heritage Advisory Council to be distributed as grants.
- Of remaining proceeds, additional funds to the colleges and universities listed above for athletics, money to the North Carolina Major Events, Games and Attractions Fund, and to the state General Fund.
What Could Happen Next
If HB 347 receives a favorable vote in the Commerce Committee, it would move on to the House Finance Committee.
North Carolina came close to legalizing online sports wagering in 2022 but the effort fell short by one vote in the House.
The state does have retail sports wagering at three Native American casinos, two Eastern Band of Cherokee Indians casinos in the western part of the state and the Catawba Two Kings Casino in Kings Mountain.
BetCarolina.com – your source for North Carolina sportsbook promo codes – will report on the bill’s progress throughout.