Two former players for the NBA franchise, the Charlotte Hornets, Dell Curry and Muggsy Bogues, recently joined the Team’s President Fred Whitfield in approaching the state’s lawmakers one-by-one to lobby for the introduction of legal online sports wagering in North Carolina.
More engagement from the team bosses in the Tar Heel State was to follow. President and General Manager of the NHL Carolina Hurricanes, Don Waddell, also threw his support behind the introduction of mobile sports wagering;
“Gambling happens everywhere. Legalize it. Get rid of the next-door neighbor bookies and make it safer. I think it’s a win-win for everybody” Waddell announced straightforwardly and simply.
A number of reports have recently been undertaken by the North Carolina Education Lottery to analyze the revenue impact of sports wagering in the Tar Heel State and found that legalizing online sports betting could potentially produce millions of dollars in revenue for North Carolina. In the United States, illegal gambling is a multibillion-dollar industry, and potentially turning those dollars into legal state government revenue could prove to be the difference between balancing the North Carolina State Budget, or digging an inescapable budget blackhole. What’s more, that money could help educate tens of thousands of the state’s students.
The President of the North Carolina Family Policy Council, John Rustin has gone on record as saying that said that kind of money not finding its way into the legal taxation system would possibly cause corruption of both North Carolina’s values and government officials.
The North Carolina Online Sports Betting Bill
A pair of North Carolina’s tribal casinos began offering bricks-and-mortar sports betting in March. The downside to that fact is that it necessitates sports bettors to travel to those locations, rather than bet on their phones, laptops, PCs, or tablets. Naturally then, seeing what is happening with online sports betting booming in states like New Jersey, Pennsylvania and Michigan, North Carolina lawmakers started plotting their own bill.
The North Carolina legislature officially introduced Senate Bill 688 recently. The bill looks to permit online sports betting within state lines, protected by geotechnology. Under the proposed law, there would be 10-12 online sports betting licenses available in the Tar Heel State if the bill passes, creating a competitive and engaging market in North Carolina.
Senators Jim Perry and Paul Lowe Jr. introduced the bill, and have advocated for it to become law on October 1 2021. North Carolina lawmakers will remain in session until July 30, which will give them plenty of time to get the bill passed, and put the rules and regulations of online sports wagering in the Tar Heel State in place.
What is already known is that online sports betting licenses would cost $500 000, with a renewal every five years coming in at a cool $100 000. The state would tax adjusted gross sportsbook revenues at 8%.
Online sportsbooks would be permitted to accept wagers on professional sports, college sports, eSports, and other amateur events like the Olympics. The commission could in theory also approve other events for online wagering.
While it seems to be legislation allowing for statewide mobile wagering, it does allow also permit owners of sports facilities and stadiums that hold professional events and can accommodate at least 17 000 fans to have terminals, or also offer in-house betting apps designed for use within a quarter-mile radius of the stadium.
That could see possibly result in the Charlotte Hornets, Carolina Panthers and Carolina Hurricanes to partner with online sportsbook operators, and may even nudge the door ajar for and Golf courses hosting PGA events and NASCAR racetracks to set up their own in-house sportsbook operations.