A new bill proposed in Virginia poses a potential threat to North Carolina’s upcoming sports betting industry. Virginia Senate Bill 124, which recently passed committee, would allow Virginians to legally bet on in-state college athletic teams. This could draw betting dollars away from North Carolina sports betting apps and promos during a prime wagering period – the NCAA March Madness basketball tournament.

North Carolina sports betting is set to launch statewide on March 11th, just days before the popular tournament begins. The timing aligns with North Carolina Governor Roy Cooper’s stated goal of having legal wagering operational for March Madness. However, SB 124 in Virginia allows betting on local teams like the Virginia Cavaliers and Virginia Tech Hokies. With popular home state teams now available, some Virginia bettors near the border may opt to stay put rather than travel south to use North Carolina sports betting apps and promo code deals from operators like FanDuel North Carolina.

Virginia originally legalized sports betting a few years ago but banned wagering on in-state college teams. SB 124 would eliminate that ban, potentially keeping more bettors closer to home instead of crossing state lines to bet on local teams. A similar bill failed last year, but SB 124 recently cleared committee in the Virginia Senate. It still requires full Senate approval and House passage before becoming law.

For now, North Carolina remains positioned to capitalize on pent-up demand when statewide mobile wagering goes live March 11th. Major sportsbook operators like FanDuel, DraftKings, BetMGM and Caesars are expected to launch NC betting apps with generous promo codes for first-time depositors. But the lure of wagering on home state college basketball squads could convince some Virginians to keep their action closer to home if SB 124 ultimately passes. That could siphon away betting dollars during the NCAA tournament – a key period North Carolina hoped to leverage in its sports betting launch.

✅ Fact Checked on January 27, 2024 by Ken Weaver