North Carolina Governor Roy Cooper Signs Bill Legalizing Sports Betting

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On June 14, 2023, North Carolina Governor Roy Cooper signed a bill legalizing sports betting outside of tribal lands. The legislation permits up to 12 commercial online sportsbooks and grants professional sports venues in the state the opportunity to apply for retail sports betting licenses.

The bill, known as House Bill 347, was passed by the North Carolina General Assembly on June 6. It requires interactive sportsbooks to pay a $1 million fee upon being deemed eligible for an online sports wagering license in the state. Licenses are valid for five years, with renewals requiring an additional $1 million for another five years.

Online sportsbooks will be required to share 18% of their gross income with the state. They will be able to offer odds on professional and college sports, as well as pari-mutuel wagering on horse racing.

Professional sports venues eligible to apply for in-person sportsbook permits include PNC Arena in Raleigh, WakeMed Soccer Park in Cary, Bank of America Stadium and Spectrum Center in Charlotte, Charlotte Motor Speedway, North Wilkesboro Speedway, Sedgefield Country Club in Greensboro, and Quail Hollow Country Club in Charlotte.

The North Carolina Education Lottery Commission will oversee the application review process, license issuance, and regulation of sportsbooks. Online sportsbooks can commence operations as early as January 8, 2024.

Governor Cooper expressed his support for North Carolina joining the growing number of states that have legalized sports gambling since the US Supreme Court overturned a federal ban in 2018. North Carolina already allowed in-person sports betting at tribal casinos following updated gaming compacts in 2021.

The new legislation aims to make sports betting more accessible by allowing individuals aged 21 and older, physically located within the state, to place wagers using mobile devices or computers starting next year. Cooper believes that expanding gambling through sports betting will provide a long-lasting economic boost to the state.

The tax revenue generated from sports betting in North Carolina will be allocated in a unique manner. After covering administrative and regulatory costs and allocating $2 million per year for gambling addiction education and treatment programs, the remaining taxes will be used to support college and youth athletics.

A portion of the funds, $1 million per year, will be directed towards a grant program that aims to expand youth sports opportunities for individuals up to the age of 18. Additionally, $300,000 annually will be allocated to 13 college athletic departments.