Sports betting has been legal in North Carolina since March 2021, when a trio of in-person sportsbooks opened at casinos across the state in Cherokee (Harrah’s Cherokee Casino Resort), King’s Mountain (Catawba Two Kings Casino) and Raleigh (Bovada Online Casino).
For the last two years and change, those have been the only betting options for sports fans within the borders of North Carolina. While they’ve had some access to the pastime, the casinos aren’t convenient for a large audience: you can’t drive halfway across the state to place a bet on live game odds, don’t want to get stuck in traffic on your way downtown and see strong odds shift out of your favor.
Governor Cooper’s Approval and Review Process
That’s set to change early next year, though, as Tar Heel State governor Roy Cooper signed a bill into law in June 2023 allowing for the operation of mobile sportsbooks within the state: instead of having to place bets in person, North Carolinians and visitors to the state alike will be able to wager on the go wherever they are.
Ever the careful politician, Cooper has been an advocate of the industry since his time in office, but said he made sure to review the bill before signing to ensure it met his standards.
Exciting Times Ahead for Sports Fans in North Carolina
It’ll be an exciting year ahead for sports fans in the Tar Heel State. The advent of mobile betting just adds to the fun. The Carolina Hurricanes (at or around +800 to win the 2024 Stanley Cup at various sports betting sites, tied for the best odds in the National Hockey League), University of North Carolina quarterback Drake Maye (at or around +1400 to win the Heisman Trophy, as well as a projected first-round draft pick) and the Duke Blue Devils (at or around +1200 to win the NCAA Men’s Basketball Tournament) all clock in as some of the best bets in their respective sports this year. The Carolina Panthers are sure to bring in some attention as well with the addition of first-overall pick quarterback Bryce Young to a team that came within a game of a division title in 2022. Odds and promotions can vary quite a bit from sportsbook to sportsbook, so make sure you shop around first if you think you have a winning bet so that you know you’re locking in the best possible odds of winning big.
The Legalization Process and Delays in Going Live
Here’s a look at the legalization process, including why it’ll be a few more months for the sportsbooks to go live and what will happen next for North Carolina bettors.
Legislators had gone back and forth on the specifics of a potential bill over the last few years, but with a new slate of lawmakers in office to begin the 2023 session, they were finally able to ram the measures through. One factor that helped get the deal done was the agreed-upon tax rate, in which the state of North Carolina will rank in 20 percent of the revenue from bets the sportsbooks win. Earlier drafts of the bill had the rate set at 14 percent and 18 percent, and legislators slowly pushed to raise their cut.
Other Considerations and Support for Community Programs
Other considerations lawmakers took into account were the ongoing presence of under the table sportsbooks (hoping that continued legalization would help crack down on illegal operations, helping the state to profit instead of being cut out via unreported business earnings) and meeting in the middle between those who have criticized the industry for its potential role in creating gambling addictions.
In order to combat the potential negative impacts of the industry, many states have made sure to devote the funds brought in through gaming revenue taxes to community outreach programs designed to lift up marginalized groups, youth sports and schools, trying to offset the ramifications of legalization by helping those who need it most.
Next Steps: License Applications and Regulation Setup
Now that the bill has passed, it’ll take some time for the industry to ramp up because the North Carolina State Lottery Commission has to work on reviewing license applications and setting up exactly how they want to regulate the industry.
A start date early in 2024 makes sense for a number of reasons. The first couple months of the year are some of the busiest for sports betting, as the market is driven by major events like the Super Bowl and March Madness: if the Blue Devils are in the thick of things next year, you can expect a flurry of bets that will continue on through the spring if the Hurricanes turn out as advertised.
Funnily enough, the state budget resets on July 1 each year, so only half of the 2023-24 fiscal year will see the impact of sports betting. The six-month tryout period gives lawmakers a chance to see just how the industry fits in the state, allowing them to streamline the next budget.
In Summary
The legalization of mobile sports betting in North Carolina brings exciting opportunities for sports fans in the state. With the convenience of mobile betting, residents and visitors alike will have the freedom to wager on the go. Governor Cooper’s support and careful review process ensure that the industry meets the required standards. As the industry ramps up, sports enthusiasts can look forward to betting on popular teams and players, such as the Carolina Hurricanes, University of North Carolina quarterback Drake Maye, and the Duke Blue Devils. While there may be delays in going live due to the licensing and regulatory processes, the start date in early 2024 aligns with the peak season for sports betting. The impact of sports betting on the state budget will be evaluated during the six-month trial period, allowing lawmakers to make informed decisions for the future. Overall, the introduction of mobile sports betting brings a new level of excitement and engagement to the sports scene in North Carolina.
