North Carolina lawmakers will once again make an effort to bring legal sports betting services to the state, as they are set to make another try and authorize sports betting outside local casinos – a move that could set professional sports teams up for future success.
As previously reported by CasinoGamesPro, the proposed legalization of sports betting services in the state of North Carolina has caused some controversy that caused a division among legislators. Some of them have been focusing on whether the new form of gambling would bring enough economic benefits for the state, while others have been centering on the potential social costs that gambling could have on society.
So far, state lawmakers have once again strengthened their efforts, so they could send a sports betting bill to the governor’s desk in the weeks to come. As it was recently revealed, the Senate of North Carolina is expected to take a final vote on the bill on June 1st, 2023. The proponents of the measure are willing to see regulated sportsbooks in the state but in order to have the service up and running, and see the new form of gambling bring financial benefit to the state, they would first need to authorize it.
Professional Sports Teams in North Carolina Back Proposed Sports Betting Bill
A previous attempt to legalize sports betting in North Carolina was unsuccessful. In 2022, just one lawmaker was enough to change the turn of events and kill the legislation, when he had a sudden change of heart and voted against the proposed sports betting measure after hearing the speeches of the draft’s opponents, who have claimed that gambling would cause significant harm to society, as it is predatory and addictive.
According to market experts, the arguments “for” and “against” the sports betting measure may resonate among certain lawmakers.
Professional sports teams have also backed the bill, saying that failure to legalize the practice is likely to have an extremely negative impact on their revenues, which, in its turn, would put them at a disadvantage, making it hard for them to remain competitive enough, especially compared to sports teams from other states that have already given the green light to sports betting.
As it is currently written, the bill seeks to permit betting on professional, collegiate, Olympic-style and electronic sports. Under the provisions of the measure, North Carolina would license between 10 and 12 mobile gambling operators to allow them to accept bets from local customers. The new form of gambling will be subject to an 18% tax rate, part of which would be granted to collegiate athletic departments across the state. Some of the tax money is set to be used to fund gambling research and education, as well as various gambling addiction treatment programs.