The latest meeting of the North Carolina State Lottery Commission revealed that January 8, 2023, the opening target date for sports betting in the state, would most likely be postponed. According to the new gambling laws, legitimate sports wagering in the Tar Heel State could begin by the set date. However, with rules still to be endorsed and licenses submitted, sports betting aficionados will have to wait a bit longer.
The Commission, in charge of monitoring the newly legalized mobile and retail sports wagering in North Carolina, must be ready to officially launch the sector by the final deadline, June 15, 2023. Following the meeting held this Tuesday, commission members confirmed that the January launch date was unfeasible considering all the arrangements that had yet to be made.
Sterl Carpenter, head of the gaming compliance and sports betting division of the N.C. State Lottery Commission, commented on the meeting and further explained the tasks that remain to be accomplished. Following the submission of applications, sports betting operators would have to undergo a thorough investigation. Carpenter explained that it included comprehensive checks of the businesses’ responsible gambling strategies, security, and financial controls. Furthermore, operators would have to prove they were not accepting bets outside of North Carolina or on tribal lands.
During the meeting, the Commission approved a wide range of sports betting markets that would soon be available through the platforms of legitimate sportsbooks. Additionally, certain modifications of the initial set of rules were also discussed. These, along with the approved betting events would have to be validated by the full commission.
Legitimate sports wagering in North Carolina is currently accessible at three tribal operators offering retail sports betting including Catawba Two Kings Casino, Harrah’s Cherokee Valley River Casino, and Harrah’s Cherokee Casino Resort.
Sports Betting Operators Must Have a Written Designation Agreement to Receive a License
Although the Commission mentioned no official start date, its latest meetings indicated it was busy planning and preparing everything for a smooth launch of the betting sites and apps in 2024.
During one of its latest meetings, held on November 7, the North Carolina Lottery Commission discussed a second batch of betting rules. Besides marketing guidelines, it included the account registration process.
Earlier this year, on June 14, Governor Roy Cooper signed House Bill 347 into law. It legitimized betting on professional, college, and amateur sports, as well as horse racing in North Carolina. He commented that the legalization of the industry would create many job opportunities and boost the economy.
Originally, the bill limited the number of sportsbooks to 12, however, some changes were introduced. As per the regulatory modifications, sportsbooks are required to establish a “written designation agreement” with a professional sports team, golf course, or racetrack.
Thus, operators must have an agreement in place to obtain a license. However, no entity has announced such collaboration yet. According to HB 347, sports betting operators will be taxed at a rate of 18%, with prohibitions to deduct promotions from revenue.