Bet on This

Online sports betting may soon be legal in North Carolina—ushering in a thrilling new industry for our state. 

NC MAY JUST CASH IN on the mobile sports betting windfall. Whether you’re a diehard fan or a casual “yay sports” viewer, this bill means serious business for all NCers. 

After being defeated in the state House of Representatives last year by only one vote, House Bill 347 was filed in March for another shot at approval. Now, odds appear promising—and, if passed, mobile betting on college and professional sports could go live in our state as early as Jan. 1, aka in time for your Super Bowl wagers. (We’ll take the over/under on the National Anthem going long).

“We’d like to get it done this year,” says Rep. Jason Saine, who represents the 97th North Carolina House District and has been focused on the issue of legalizing online sports wagering for the better part of two years, and is working in tandem with three co-sponsors: House Majority Leader John Bell (R-Wayne), Dem. Zack Hawkins (D-Durham) and Ashton Clemmons (D-Greensboro).  

“You really have members of both parties in support,” says Saine. “Of course there’s some opposition, but I think this time we should have enough votes.” To wit, even the governor has expressed optimism. “I think it’s going to pass from what I hear,” Gov. Roy Cooper shared at a recent Canes fan event, according to Bet Carolina. “We’re working to make sure we get good legislation that is fair to the taxpayers, but also recognizes something that’s going on anyway. We might as well get benefit for our schools and for our state out of it.”

The benefits of legalizing mobile sports betting are multifold. “One, it stops revenue we’re losing to other states,” Saine explains. “Virginia has sports betting. We see a lot of our folks in North Carolina traveling short distances across the border and placing bets. That’s revenue the state’s not realizing. It also means we’re helping to fund Virginia’s schools, Virginia’s roads and everything else Virginia pays for.” He notes that with a sports betting bill imminent in South Carolina as well, “we could essentially be surrounded by states with sports betting, and that really would be a loss of revenue for our state.”

Second, a portion of the money raised from online sports gambling will be used to bolster—what else?—North Carolina sports, primarily supporting the athletic departments at HBCUs, as well as shoring up youth athletic programs throughout the state. “In the spirit of sports, we want to make sure that we’re seeing a more active populace—getting people outside, getting people more engaged,” Saine says. “We think that’s important.”   

$57.2B BET ON SPORTING IN THE UNITED STATES
↑ of 165% from 2020

Finally, although it may seem counterintuitive, the legalization of sports betting actually provides an opportunity to curb problem gambling and confront gambling addiction. “My counter to those who are opposed and worried about people who do gamble is, until we get it out in the open and understand exactly to what extent we do have people sports betting in North Carolina, we’re really not doing those people who have problems any favors whatsoever,” Saine shares. “We’re really doing them a disservice because we’re kind of keeping them underground and not getting them the help they need.”

Once HB 347 passes in the House, it will head to the Senate for a vote, which Saine anticipates may happen this month. Perhaps by late spring we’ll know the fate of the bill that has sports betting enthusiasts across the state hoping for a W. 

Revenue Potential? 

Saine predicts the mobile sports betting industry in NC could bring in anywhere from a whopping $30 to $60 million, but “that’s a conservative estimate,” he says. “It could be as much as $100 million. It’s hard to measure since we don’t have it yet and because it’s kind of an underground market at this point, but our hope is we start to capture that market.” Cha-ching!

How Would It Work?

• If the Bill HB347 passes…
• NC residents would be able to wager on professional and college sporting events.
• It would allow for up to 10 to 12 licenses to be offered to online operators in NC, as managed by the state’s lottery commission.
• Professional sports venues like PNC Arena and Bank of America Stadium would have guaranteed licenses.
• Sports betting would be taxed at 14%.
• Proceeds would be allocated to gambling addiction education, youth sports upgrades and HBCU athletic support.
• 21-and-up age requirement for online wagering
• Mobile betting would be prohibited within the state’s protected tribal territories, with sportsbook apps relying on geolocation to regulate usage.