It’s been three weeks since the state House passed the bill for mobile and online North Carolina sports betting by a 64-45 margin.
In the interim, the bill has sat on the Senate floor in Raleigh, passing through its first reading on March 30 before being referred to the chamber’s Committee on Rules and Operations.
With four months remaining in the 2023 legislative session in the North Carolina capital and a few weeks left before the body’s crossover deadline on May 4, BetCarolina.com wanted to see where things stand involving HB-347, which would legalize online wagering in the Tar Heel State.
No Reason To Panic In North Carolina
Bill sponsor Rep. Jason Saine (R-Lincoln) told BetCarolina.com in an email Thursday the lack of action in the state Senate is no reason for panic. With more pressing legislative topics to tackle first, there’s ample time for the chamber to sift through all the subjects that need to be addressed before sine die in August.
“The bill is fine … this week the Senate has been more focused on their budget, but not an indicator of anything with HB-347,” Saine told BetCarolina.com. “The bill itself is not subject to any crossover deadlines since it contains a revenue piece, per our rules. These bills are eligible for both years of session.”
Brendan Bussmann, managing partner of B Global Advisors, told BetCarolina.com: “Sports betting is still in a good position after the break in North Carolina and the clock still has plenty of time on it to get this done. Plenty of regulation time to get this one across the goal line."
Bussmann added of where the bill fits on the day-to-day agenda, “Gaming continues to be one of those issues that does not necessarily come front and center unless you are a state that sees it purely as a revenue source to the state. North Carolina is not one of those states, so look for it to likely happen this year but just because it isn’t front and center today doesn’t mean it isn’t a priority to get done.”
Major national operators such as FanDuel, DraftKings, BetMGM, Caesars and the like would no doubt be interested in entering the state and offering North Carolina sports betting promos for new customers for signing up.
What To Know About N.C. Betting Bill
Under HB-347, anywhere from 10-to-12 online sports betting licenses would be issued, with a tax rate of 14% on all wagers.
A total of $3 million would be earmarked for 10 colleges and universities, to be divided equally so each institution receives $300,000. Those 10 schools are: Elizabeth City State, Fayetteville State, North Carolina Agricultural & Technical State, North Carolina Central, North Carolina at Asheville, UNC Greensboro, UNC Pembroke, UNC Wilmington, Western Carolina and Winston-Salem State.
The state would also earmark $2 million to programs designed to address and prevent problem gambling. And $1 million would go to the North Carolina Outdoor Heritage Advisory Council, which would be money distributed as grants.
The rest of the tax money would be divided annually thus: 50% for the state General Fund, 30% to the North Carolina Major Events, Games, and Attractions Fund (with the goal of drawing special events such as golf tournaments and auto races) and 20% for the institutions of higher learning listed above to support their athletic programs.
Keep it here at BetCarolina as we cover the road to North Carolina sports betting apps.
Once legalized, we will also provide up-to-date reviews on various sportsbooks in the state, and info about their promotions. This will include the BetMGM North Carolina bonus code and many others.