North Carolina is one step closer to legalising sports betting operations after its state senate gave an initial green light in a vote on Wednesday.
The narrow 26-21 cross-party vote initiates Senate Bill 668, which would legalise sports betting online, via mobile phone and in person at approved facilities in the immediate area of major sporting events. The North Carolina Lottery Commission is on standby to be the regulator of sports betting once the bill is ratified.
The state will impose an 8% levy on sports betting operators to raise money and charge for no more than 12 state licenses for online sports betting outlets, not counting additional tribal licenses. Sports betting in North Carolina is currently only permitted at tribal casinos.
Online gambling outlets wanting to operate in the state would have to pay $500,000 for their initial license and then $100,000 annually to renew. The state would also require licenses and fees from vendors that supply licensed gambling operations.
The money raised from license fees and levies is set to go towards education funds in the state, similar to lottery profits.
The sports betting legalisation process comes after the North Carolina Education Lottery announced it raised a record amount of money for the state after profits for the fiscal year reached $936m.