North Carolina has pulled the trigger to legalize gambling within its borders. Governor Roy Cooper recently signed House Bill 347, a sports betting and horseracing bill, into law inside the Charlotte Spectrum Center.
The new law will take effect until next year and states, "sports wagering shall not be authorized in the State until a date identified by the [Lottery] Commission, which shall occur as soon as practicable and may be no later than twelve months after the date this act becomes law."
Once North Carolina’s regulated sports betting market is in place, the Lottery Commission will be permitted to award up to 12 licenses to operators statewide. Players would then have access to online and mobile betting, as well as in-person wagering.
Governor Cooper told the Watauga Democrat that opening up the gambling market in North Carolina can potentially benefit the state’s economy, as well as taxpayers.
He said, “This legislation will help North Carolina compete, make sure taxpayers receive a share, create many good-paying jobs and foster strong economic opportunity.
“As we move forward, we should work to make sure more of the revenue is used to invest in our public schools, teachers and students.”
Part of the state’s motivation to approve regulated betting had to do with pre-existing gambling within North Carolina and an opportunity to provide a safe space for an already present market.
Governor Cooper elaborated further by saying, “This is a very real thing, and it exists now. We already know sports gambling is going on now in our state, and this gives us the opportunity to put up safeguards.”
