Governor Roy Cooper confirmed that he will allow the North Carolina sports betting bill to pass within the budget bill for 2023 to 2025. He added that the law can pass without his endorsement. In addition, the legislation featured notable modifications to the regulatory framework that would oversee the sports betting market in the state.
The budget plan would likely significantly affect North Carolina’s rapidly developing online sports betting industry. The most noticeable effect is the reduction from twelve to seven licenses for online sports betting operators. However, these wagering activities won’t go up until after January 2024.
Governor Cooper and the State Legislature signed House Bill 347 into law. The North Carolina State Lottery Commission will regulate the activity per this statute. Also, the revamped strategy allows for wagering on online games and at some brick-and-mortar arenas. In addition, it featured rules on how to open an online sportsbook in the state.
North Carolina Sports Betting Bill
The sports betting law allows the Lottery Commission to issue up to a dozen online sports wagering licenses. It included permits for betting software suppliers. However, the regulator needs to set the rules and regulations first. The earliest date for the launch of the industry is January 8, 2024. In addition, the latest date is June 1 of that year. Those in charge of the lottery, including commissioners, advisors, and consultants, are working feverishly to fulfill the regulatory circumstances to launch these sportsbooks as soon as possible.
However, the regulatory procedure has become more complicated due to the state budget bill’s late adoption. According to pay per head reports, debates on casinos delayed the passage of the General Assembly’s budget plan.
House Speaker Tim Moore and Senate President Pro Tempore Phil Berger’s tepid support for incorporating commercial casinos into the budget plan led Senate Republicans to abandon the initiative. Soon after, however, concerns over casinos emerged as a real impediment to the bill’s progress. It prompted harsh condemnation from Governor Cooper, Democrats in Raleigh, and local officials in regions where casinos were being considered.