Exciting news for all sports fans in North Carolina! There’s a proposal being considered by the state’s House of Representatives that could allow individuals to place bets on sports games using their smartphones and computers, a significant development for North Carolina sports betting apps. This is significant because currently, betting is only permitted at two locations in the western part of North Carolina.

This proposal, known as House Bill 347, is currently under review by lawmakers this week. If it receives approval, people would be able to access sports betting apps, including platforms like BetMGM North Carolina, starting from January 1st. The bill outlines that around 10 to 12 different companies would be allowed to establish these apps within the state. However, they would be required to pay a fee of $1 million and adhere to regulations.

Should the bill pass successfully, residents of North Carolina would have the opportunity to bet on both college and professional sports games. Additionally, there would be a tax rate of 14% applied to the earnings generated from these bets, with 14 cents from every dollar going towards state revenue.

What’s more noteworthy is that the funds obtained through betting would contribute significantly towards various beneficial initiatives in North Carolina. For instance, an annual allocation of $2 million would be dedicated towards educating individuals about the risks associated with gambling. An additional one million dollars per year would be allocated towards enhancing youth sports, while $300,000 would be directed towards supporting sports programs in historically black colleges and universities (HBCUs) within the state.

Last year, a similar proposal came close to passing but ultimately fell short. This time, the individuals responsible for the bill believe they have learned from past experiences and have made improvements to garner greater support from lawmakers. They assert that both Democrats and Republicans are collaborating to ensure its success this year, a move that could also lead to a variety of North Carolina sportsbook promos.

If this new bill is enacted into law, North Carolina would no longer miss out on revenue from sports betting. Experts familiar with the matter believe that the bill stands a chance due to the thought put into it, even before its introduction.

Once online sports betting becomes available in North Carolina, various betting apps are expected to offer deals and bonuses. These deals could provide users with funds for betting or other enticing perks.

For those who enjoy gambling, it is important to be aware of tax regulations pertaining to winnings. There’s actually a tool that can assist you in determining the amount of taxes you may need to pay on your winnings.

In addition to all the discussions surrounding sports betting, there are some news tidbits as well. For instance, there’s speculation about who might become the coach for the Carolina Panthers, or how teams will perform after not having any players selected for the NFL Pro Bowl. Furthermore, people are talking about a person named Drake Maye and what kind of performance we can expect from the Charlotte Hornets or the Carolina Hurricanes in their sports seasons.

Therefore, if you reside in North Carolina and have an interest in sports, it would be wise to keep an eye out for any developments related to this bill. It has the potential to alter how you experience your games and could usher in a new era of North Carolina sports betting, complete with a variety of apps and promotional opportunities.

✅ Fact Checked on January 27, 2024 by Ken Weaver