NC Online Sports Betting One Step Away From Legalization

After years of political infighting, both the North Carolina Senate and House have approved the passage of HB 347. The Senate revised the original House bill, allowing it to gain enough support to pass through both legislative chambers. 

HB 347 would allow online sports betting to become legal in North Carolina and now awaits the final signature from Governor Roy Cooper. The Governor has stated he supports legalizing the industry since a 2022 version of the bill failed to get enough votes. That means his approval is almost inevitable and will make North Carolina the latest state to legalize online sports betting. 

What is Included in HB 347

When the Governor signs, the bill will allow for up to 12 online sportsbook licenses that the North Carolina Lottery Commission will manage. Each sportsbook applying for a license will need to pass a background check and pay a $1 million fee.

The bill also expands retail sports betting, allowing sportsbooks to begin to open locations around arenas, stadiums, and other sites where large pro sports events are held. This is meant to give bettors an option to place bets on local events at a physical sportsbook instead of having to create an online account.

Legalized betting on horse racing is also a part of HB 347, opening yet another legal gambling industry in the Tar Heel state.

The bill would allow that state to apply a tax rate of 18% on gross betting revenue, which is higher than the 14% previously proposed.

When Will Online Sports Betting Launch in NC?

While the bill could be signed into law this week, it would not go into effect until Jan 1, 2023. It will also take time for the North Carolina Lottery to screen and approve online sportsbooks, and it is unlikely they will have any ready to launch by Jan 1. 

Currently, the Lottery would have until June of 2024 to launch online sports betting. That means we’ll likely see the industry go live in the spring of that year.