After years on the sidelines, North Carolina on Monday became the 30th state to offer legal online sports betting, joining Washington, D.C. The basketball-heavy jurisdiction has its online sports betting infrastructure up and running in time for March Madness.
The Tar Heel State watched other states legalize sports betting in the first few years after the collapse of PASPA (Professional and Amateur Sports Protection Act of 1992) and went through multiple amendments to its sports betting laws. That was until Gov. Roy Cooper signed HB 347 in June, which allows up to 12 interactive sports betting licenses to be granted in the state.
Eight of the nation's largest sportsbook operators (each paying a $1 million license fee) will begin offering online sports betting in North Carolina after an application process. The law provides that all operators must strive to partner with existing North Carolina sports teams, venues, and/or Native American tribes to offer in-person wagering.
The eight operators and their partners are listed below.
• Bet365 / Charlotte Hornets
• BetMGM / Charlotte Motor Speedway
• Caesars/Eastern Band of Cherokee Indians
• DraftKings/NASCAR
• ESPN BET / Quail Hollow Club (PGA Tour)
• Fanatics Sportsbook / Carolina Hurricanes
• FanDuel/Carolina Panthers and PGA Tour
• Underdog / Sedgefield Country Club (PGA Tour)
Through a partnership with the Eastern Band of Cherokee Indians, Caesars was able to offer online sports betting on March 1, albeit only within the boundaries of the tribe's lands. All other sportsbooks as well were allowed to start pre-registering customers from March 1st.
The sports betting industry continues to boom, with U.S. sportsbooks reporting a record $10.92 billion in revenue in 2023. North Carolina will certainly contribute to her new record year in 2024 and reap the economic benefits.
“We kind of knew they were going to legalize it, it was just a matter of when,” said Dr. Michelle L. Malkin, founder and director of East Carolina University's Gambling Research and Policy Initiative. he told ESPN. “North Carolina tends to be a state that's a little more cautious about gambling…I think they've taken a backseat to what's going on in other states. Has it been successful? Were taxes being earned? Etc.
Dr. Malkin added that the potential tax revenue ($14.4 billion at the state and local level nationwide in 2023) is likely to be attractive to state legislators.
Despite the overwhelming growth of the sports betting industry over the past few years, North Carolina could become the only state to offer online sports betting by 2024. No state has legalized it since North Carolina, and only a handful of states have any traction. in their legislative bodies.
