Great news for sports enthusiasts in North Carolina! The governor has recently enacted a legislation permitting the use of mobile applications for sports betting. This means that starting next year you’ll have the convenience of placing bets on your favorite teams directly from your phone through apps like DraftKings Sportsbook North Carolina.

Previously in person sports betting was only allowed at casinos owned by Native American tribes. However with this law the entire state can now partake in the excitement. The legislation permits up to 12 North Carolina sports betting apps to be utilized for betting purposes. Additionally venues such as stadiums or NASCAR tracks hosting sporting events will also have designated areas for placing bets.

This new law not focuses on enabling sports betting but also aims to benefit North Carolina in various ways. A portion of the revenue generated from sports betting will be allocated towards initiatives such as assisting individuals with gambling problems promoting youth engagement in sports activities and supporting college sports programs.

Furthermore this legislation establishes a fund intended to attract significant sporting events and other important gatherings to North Carolina. This endeavor holds the potential, for creating employment opportunities and boosting economic prosperity within the state. To ensure execution the North Carolina State Lottery Commission must establish regulations and issue licenses. This is crucial in ensuring the safety and fairness of betting activities. Companies interested in operating these betting applications will be required to submit a fee and demonstrate a track record of job creation and investment within North Carolina.

Moreover there is news for horse racing enthusiasts as well. The legislation now permits placing bets on horse races allowing people to engage in horse race betting conveniently through their phones or computers.

In the year a similar law narrowly missed approval by just one vote. However this time lawmakers from both political parties joined forces to ensure its successful passage. It’s a change that holds promising prospects for North Carolinas future.

The tax rate for sports betting has been set at 18%. The revenue generated will be allocated across areas. The Health and Human Services department will receive an allocation of $2 million to support gambling problem assistance initiatives. Additionally $1 million will be directed towards youth sports programs while another $1 million will be utilized to attract sports events to the state. The remaining funds will contribute towards college sports programs and the states general fund.

The residents of North Carolina appear prepared and receptive, towards embracing this transformative change. According to a survey almost half of the adults residing in the state would be willing to place bets, at least once a year if it was permitted. Additionally some individuals are already engaging in betting activities by visiting neighboring states.

The introduction of this law marks a significant milestone for North Carolina. It provides an opportunity for people to partake in sports related enjoyment while also benefiting the state in ways. If you’re an enthusiast of sports and happen to reside in North Carolina get ready to securely place your bets starting from next year!

✅ Fact Checked on January 16, 2024 by Ken Weaver