North Carolina Voting on Legal Online Sports Betting in the State

April 13, 2021 Jovan Paunovic

The lawmakers in North Carolina will be voting on legalizing online sports betting in the state.

Senate Bill 688 was introduced in the State’s Senate by Senators Jim Perry and Paul Lowe. The bill would expand the North Carolina sports wagering market, allowing online and mobile betting. Sports betting is now only permitted through tribal operators in the state.

Senate Bill 688 would make it possible for the state of North Carolina’s State Lottery Commission to issue at least 10 interactive sports betting licenses to operators, but no more than 12 permits. These licenses enable operators to accept online bets on professional and collegiate sports, esports and amateur sports, including the Olympic Games.

Additional Stipulations

The license would cost $500,000. The license expenses would be refunded if the operator’s application is turned down. The permit would last for five years and an extension for the permit would cost $100,000 and last another five years.

The Commission would also allow service providers to get a license for $25,000 each. These permits allow service providers to work with interactive sports betting licensees and offer wagering in the state. These licenses would also last 5 years, and a renewal would cost $10,000.

The tax rate for operators holding a license would be 8% on adjusted gross revenue from sports wagering activities in the state, payable on a monthly basis.

Senate Bill 688 also includes measures establishing self-exclusion systems, allowing players to voluntarily exclude themselves from betting with operators. The bill is currently awaiting further action in the Senate.