(The Center Square) — North Carolinians will be able to place bets on a wide range of sports next year following Gov. Roy Cooper’s final approval on Wednesday.
Cooper was flanked by both Republican and Democratic lawmakers at the Spectrum Center in Charlotte on Wednesday as he signed legislation to legalize sports wagering into law. The home of the Charlotte Hornets is one of eight on-site venues authorized by the legislation to offer sports books, which will also be available online.
Many expect betting to begin in January, though the legislation gives the North Carolina Lottery Commission until June 2024 to go live.
“Let’s face it, sports wagering is already happening in our state. Surrounding states here and across the country are already taking advantage,” Cooper said, noting Vermont also legalized sports wagering Wednesday. “This legislation allows the state of North Carolina to regulate it and put safeguards on it, as well as providing funding for helping people with problem gambling.”
The most recent fiscal note estimates total sports wagering tax and fee revenues at $74.9 million in fiscal year 2024-25, growing to $100.6 million by fiscal year 2027-28.
The new law authorizes the Lottery Commission to issue up to a dozen interactive sports wagering licenses with an application fee of $1 million. Cash bets can be made at sportsbooks at or near pro sports venues, racetracks and golf courses for those aged 21 and older.
Annual state revenues from an 18% tax on operators will be distributed $500,000 to the Department of Revenue to offset collection costs, $2 million to fight gambling addiction, $1 million to the Division of Parks and Recreation for youth sports, $300,000 each to 10 University of North Carolina System schools for college athletics, and $1 million for sports grants through the Outdoor Heritage Advisory Council.
Any leftovers would be distributed 20% to the UNC System schools, 30% to the North Carolina Major Events, Games, and Attractions Fund, and 50% to the general fund.
“This is a historic moment for the state of North Carolina, and this will benefit our economy for generations to come,” Cooper said.
Bill sponsors Rep. Jason Saine, R-Lincoln, and Zack Hawkins, D-Durham, echoed the governor.
“This is truly a momentous occasion for our state, for our athletes, for our teams, for everybody in our state,” Saine said.
“We know it’s happening in the dark,” Hawkins said of sports wagering, “and this opportunity allows us to bring it into the light.”
Both support and opposition to the legislation was bipartisan. Opponents predict legalized sports gambling will lead to a surge in gambling addiction, repeatedly pointing to research that shows gambling feeds bigger issues like embezzlement, substance abuse and suicide.
The legislation builds on legal sports gambling at three tribal casinos operated by two American Indian tribes in western North Carolina.
A total of 37 states and the District of Columbia have legalized sports betting since the U.S. Supreme Court ruled the Professional and Amateur Sports Protection Act unconstitutional in 2018, freeing states to permit sports wagering, according to the American Gaming Association.
Vermont Gov. Phil Scott’s expected signature to approve mobile sports betting on Wednesday would make 38 states. Of those, 29 states including Vermont and the District of Columbia authorize mobile sports betting.
