North Carolina Gov. Signs Sports Betting Bill, Taxes to Support College, Youth Athletics

North Carolina sports betting off of tribal lands was legalized Wednesday afternoon when Gov. Roy Cooper (D) signed legislation authorizing up to 12 commercial online sportsbooks. The law additionally allows the state’s professional sports venues to seek retail sports betting privileges.

House Bill 347 passed the North Carolina General Assembly on June 6. The statute requires interactive sportsbooks to pay a $1 million fee after being deemed suitable to possess such an online sports wagering license in the Tar Heel State. Licenses are good for five years, with renewals set at another $1 million for another five years.

Online sportsbooks will share 18% of their gross income with the state. Oddsmakers will be able to offer odds on professional and college sports, plus pari-mutuel wagering on horse racing.

 

[magnus2022]

I believe that most of the states in America is now regretting the illegalization of gambling in their respective states. They lose billions of dollars monthly due that silly laws. Secondly, they have realized that gambling is going online thereby bypassing the legislations. To save face and make money simultaneously, they have to legalize gambling as soon as possible.