A proposed legislation has been introduced in the North Carolina General Assembly with the purpose of legalizing sports betting in the state. If passed, this bill would give adults over 21 the opportunity to place bets on local collegiate teams such as UNC basketball and NC State football.

Brad Senkiw, a writer specializing in the sports betting industry for Covers.com, believes that if this bill is approved, it could bring significant progress to North Carolina’s sports betting scene. Senkiw mentioned that there are individuals within the state who are eager to bet on their favorite teams like the Tar Heels and Wolfpack. While some lawmakers express concerns about potential bribery towards college athletes due to legal wagers, supporters argue that regulation would actually enhance safety in sports betting since people already engage in illegal betting activities on NC teams from out of state locations. Senkiw pointed out that even if it’s not legal in North Carolina, these athletes can still be approached by individuals from Virginia where sports betting is already permitted.

Following Virginia’s legalization of sports betting in 2021, it has emerged as a booming industry with residents wagering a staggering $639 million last November according to BetVirginia.com. By allowing bets on local college teams, North Carolina could position itself competitively and attract its share of revenue from sports betting activities.
With states like Virginia already allowing betting, North Carolina faces the risk of losing out on potential tax revenue during popular betting periods such as March Madness. “That goes against the whole purpose of legalizing sports betting, which is to keep that revenue within the state. Including college teams from our own state would further contribute to that revenue,” said Senkiw.

In order to seize this opportunity, major sports betting companies like BetMGM are getting ready to enter the North Carolina market. BetMGM recently announced a partnership with the Carolina Panthers and is offering an attractive $1,000 risk free bet for new customers who sign up early using the BetMGM North Carolina bonus code. Competitors like DraftKings and FanDuel are also gearing up to launch their sports betting apps in North Carolina once licenses become available.

While the proposed legislation would allow betting on college teams from within the state, certain types of bets would still be prohibited. Proposition or “prop” bets based on factors like how many points a specific player scores would remain off limits. By legalizing sports betting while prohibiting problematic wagers, North Carolina can tap into this new source of revenue while prioritizing ethics and integrity. With neighboring states making progress in their own sports betting markets, it makes sense for North Carolina to follow suit with a regulated approach that focuses on consumers needs.

✅ Fact Checked on January 28, 2024 by Ken Weaver