North Carolina is getting closer to legalizing online sports betting as the proposal to allow people to use North Carolina betting apps on the internet has successfully passed the House of Representatives. Now it awaits approval from the state Senate.

Here’s whats happening; After consideration three times the House approved the NC sports betting bill on a Wednesday with a vote of 64 45. This bill aims to grant North Carolina residents the opportunity to place bets on sports using their smartphones or computers. It’s significant because currently three casinos operated by Native American tribes offer betting options through Caesars Sportsbook North Carolina.

The day on Tuesday there was another positive outcome for the bill with a vote of 66 45. Some lawmakers suggested amendments such as prohibiting credit card use for betting requesting taxes from betting companies and implementing limits on bet amounts. However these proposed changes did not garner support.

While some lawmakers expressed opposition to passing the bill and passionately argued against it there were also reasons, in favor of its approval. According to supporters there are people in North Carolina who are already engaging in betting activities with companies that are not adhering to the law. They argue that establishing a system would be beneficial as it allows the state to regulate and monitor betting activities while also generating tax revenue from them.

Neighboring states such as Tennessee and Virginia already permit betting leading some individuals from North Carolina to travel there to place their bets. If North Carolina were to implement betting the state could potentially generate significant tax revenue. This revenue could be utilized for purposes, such as funding schools and programs aimed at assisting individuals who may develop gambling related issues.

Assuming all goes according to plan online betting could commence on January 8th, 2024. However before this can occur the state needs to establish regulations governing how everything will operate.

This bill has garnered support from both Democrats and Republicans with, over 50 members of the House endorsing it. It differs from years unsuccessful bill in several ways—for instance the tax rate has increased from 8% to 14%. Additionally companies seeking to offer North Carolina sports betting promos would be required to obtain a $1 million license valid for five years.

Prominent betting companies are closely monitoring these developments. They are interested in coming to North Carolina and starting to offer promotions in order to attract customers.

So who would receive the tax revenue? The proposal suggests sharing it. Ten colleges and universities would receive $3 million dividing it equally among them. Some of the money would be allocated to address gambling related issues. Additionally $1 million would be granted to the North Carolina Outdoor Heritage Advisory Council for projects. The remaining funds would be divided, with half going towards the states budget some used to attract major events like golf tournaments and the rest assisting college sports programs.

Guess what? If online sports betting is approved online casinos could potentially follow suit.

So that’s the news. North Carolina is on track towards having online sports betting. It has already passed through the House. Now awaits a decision from the Senate regarding what comes next. If they give it a light it could bring about numerous new possibilities for sports enthusiasts as well, as positively impact the states financial situation.

✅ Fact Checked on January 16, 2024 by Ken Weaver