A Slam Dunk for Gambling - Sports Betting Likely to be Legalized in NC

UNC’s star center Armando Bacot throws down a dunk at Cameron Indoor Stadium, during the 2021-2022 college basketball season. Source for photo: The Daily Tar Heel

The Tar Heels, Blue Devils, Hurricanes, Panthers, Hornets, NASCAR drivers, and more are among the list of NC sports you could start to place bets on with the potential legalization of sports betting in NC. 

The Sports Wagering House Bill 347 passed the NC House with a bipartisan vote of 64-45 at the end of March. This bill could bring large amounts of money to the state as it would provide licenses to 10 to 12 online sportsbooks, which are platforms that allow gamblers to deposit money and gamble on various sports and athletes, and tax them 14%. 

A similar bill failed to pass the General Assembly last year after it passed the Senate but fell short in the House. The bill was highly debated and the votes fell short at the last moment due to a rare union of social conservatives and liberal democrats blocking the bill's passage due to concerns of gambling addictions. However, the legislation is expected to pass this time, with support for it existing among both parties. New lawmakers have been elected and the work of pro-gambling lobbyists pushing for the legislation paid off. 

A primary sponsor, Representative Zach Hawkins (D) from Durham, said, "We know that some of you believe that gambling is a vice. But much like we allow for taxes on alcohol and cigarettes, we can use this revenue from the activity—that is widely happening in our state—for good." 

The bill would bring significant impacts to the state if the Senate passes it, which it is expected to do. Governor Roy Cooper has also stated he would sign the bill into law. His office projected $60 million in revenue for NC in his budget for 2024-2025. 

Under the legislation, the wagering licensees would have to pay $1 million for a license application and be taxed 14% for their revenues while residents over the age of 21 could legally bet on college and professional sports. 

Sports betting already occurs in North Carolina at three of the legal tribal casinos in the state, through other online platforms, and by its residents who cross state lines into Tennessee or Virginia. Lawmakers have been aware of betting occurring and are finally ready for the state to profit from it.  

"Sports betting is a form of entertainment, something that consenting adults with their own money should have the right to do. It is already happening, and ignoring the issue only makes it worse as other states around us continue to legalize it. The immoral thing is to let the illegal market continue," said Representative Jason Saine (R) from Lincoln County. 

The bill addresses the concern for gambling addictions in order to ease backlash. It sets aside $2 million for addiction aid and education initiatives. The bill also includes $1 million in funding for youth sports and gives $300,000 each to UNC system university. 

Sports betting is not the only major gambling change the state could see in the near future. Additionally, there have been talks of casinos being legalized in the state. Casinos are currently only allowed on Native reservations with two located in Western North Carolina in Cherokee and Murphy, and one in Kings Mountain, near Charlotte.  

Casinos attract tourism and bring substantial amounts of money and development to their areas. Nevada and Louisiana are the only two states that allow casinos state-wide since other states restrict them due to ethical opposition to gambling. Their legalization in NC could attract many developers, businesses, and tourists. For example, Nevada is estimated to earn $800 million in tax revenue each year and to bring one million tourists to the state each month. 

There has not yet been a bill filed to legalize casinos, but lawmakers say there have been many talks about doing so. Rep. Saine said, "I do think we’ll see something out of the Senate to that effect. I’ve been with those folks and we’ve talked about it. It may be the year for that as well."

The legalization of sports betting and casinos would add to the list of groundbreaking bipartisan bills passed recently in the NC General Assembly along with Medicaid Expansion that could bring large amounts of funding to the state and demonstrate a new attitude by lawmakers hungry to pass legislation. 

These bills could change the social and economic landscape of NC. With the millions of dollars in revenue that could be generated with the legalization of sports betting and the implementation of more casinos in North Carolina, lawmakers could have a huge opportunity to allocate money to the state’s struggling education system, lower tax rates, attribute money to mental health services, public welfare services, and more. 

Programs and departments could receive more funding at the state level while regional areas could undergo large amounts of tourism which would attract development and revenue to boost local economies. Hotels, restaurants, shops, and other establishments would thrive off tourists coming to enjoy legal gambling in NC. 

North Carolina’s notorious college rivalries, NASCAR, and professional sports teams create a landscape for sports betting to flourish while bringing significant economic benefits to programs and regions across the state. The Sports Wagering Bill is an immense step forward for the state to generate revenue and develop. Its passage can pave the way for further bipartisan legislation like the legalization of casinos that will push North Carolina towards a brighter future.