On Wednesday morning, Governor Roy Cooper signed House Bill 347 into law, legalizing online sports gambling in the state. North Carolina is the 25th state in the country to allow online sports gambling, though several others permit the practice in brick-and-mortar casinos.
Here’s a quick rundown of what will change around the state as the law is implemented:
What sports can be bet on?
Customers ages 21 and over can place online bets on professional, college and Olympic-style sports. This includes stock car and horse racing.
When can online gambling begin?
The Associated Press estimates sometime in the next six to 12 months. In the meantime, the North Carolina Lottery Commission will award 12 licenses for operators to take online sports bets from North Carolinians.
What about in-person gambling?
If you’d like to place a bet in person, North Carolina’s three tribal casinos (two in Cherokee and one in Kings Mountain) are still accepting bets.
In addition, eight facilities in the state will be able to operate a sportsbook in the coming months.
- Bank of America Stadium (Charlotte)
- Spectrum Center (Charlotte)
- Charlotte Motor Speedway
- Quail Hollow Country Club (Charlotte)
- PNC Arena (Raleigh)
- WakeMed Soccer Park (Cary)
- Sedgefield Country Club (Greensboro)
- North Wilkesboro Speedway
These sportsbooks will take cash bets from anyone over 21. Horse-race betting will be through separate operators.
What are the financial effects?
The law would impose a sports gambling tax equal to 18 percent of gross betting revenue minus winnings. Several universities around the state, including North Carolina Central University in Durham, are set to receive $300,000 annually from license fees and taxes collected on the industry. UNC is not included among that list of schools. $2 million will be allocated to the North Carolina Department of Health and Human Services, $1 million to North Carolina Amateur Sports and $1 million to the North Carolina Heritage Advisory Council.
Featured image via UNC
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