Sports betting has received approval from a key figure in the North Carolina state government. Speaker of the House Timothy K. Moore has expressed his support for advancing a bill that would allow individuals to place sports bets using their phones, a major step forward for North Carolina sports betting apps. This development occurred following the Senate’s announcement that they will discuss the bill in the week.

Previously, Speaker Moore was unable to vote on any matters related to betting due to his involvement with gaming, which could have presented a conflict of interest. However, authorities responsible for ensuring conduct among lawmakers have now permitted him to vote without any concerns.

The sports betting bill had already received approval from the House in March with a vote of 64-45-1. Now that Speaker Moore is onboard, it could potentially bolster the bill’s chances when it returns to the House for consideration. It is crucial for them to finalize this before August concludes and the legislative session takes a break.

Now, let’s delve into what this bill entails. If passed into law, North Carolina could issue 10 to 12 licenses for sports betting platforms while imposing a 14% tax on all wagers made, paving the way for platforms like BetMGM North Carolina.

Some of the tax revenue, $3 million, will be distributed among 10 colleges and universities, with each institution receiving $300,000. An additional $2 million will be allocated to programs assisting individuals with gambling-related issues, while $1 million will be directed to the North Carolina Outdoor Heritage Advisory Council for grant purposes.

The remaining portion of the tax revenue will be divided annually. Half will contribute to the state’s fund, 30% will go towards a fund aimed at attracting major events such as golf tournaments and car races, and 20% will support college sports programs.

Once sports betting becomes legal, there will likely be information on various sportsbooks operating in North Carolina and the associated offers. North Carolina sportsbook promos, including promotional codes for platforms like DraftKings and BetMGM, are anticipated.

North Carolina also houses casinos like Harrah’s Cherokee Casino Resort and Harrah’s Cherokee Valley River, along with the Catawba Two Kings Casino.

Sports betting extends beyond games themselves. For instance, there is speculation regarding Nikki Haley’s odds. Additionally, surveys are being conducted to gauge sentiment towards sports betting within the state.

In the news, there is discussion surrounding the next head coach for the Carolina Panthers, collaborations between sportsbooks and local businesses, and how NFL teams without Pro Bowl players perform in the subsequent season.

For those fortunate enough to win, there is even a calculator available to help calculate taxes on gambling winnings.

To sum up, North Carolina is making progress towards allowing sports betting on devices. With backing from the House Speaker and the Senate’s imminent consideration of the bill, this could bring about a change for sports enthusiasts in the state. Stay tuned for updates on this development!

✅ Fact Checked on January 27, 2024 by Ken Weaver