SB688’s current language would impose an eight percent tax on gross gaming revenue generated by the commercial sportsbooks. That’s presumably an attractive rate, as legal sportsbooks in other states face much higher tariffs. For example, in Pennsylvania, operators are taxed at an effective rate of 36 percent.<\/p>\n<\/div>\n
North Carolina is the ninth-most populated state in the nation, with more than 10.7 million residents. It is also home to three of the big four pro sports leagues, with the NFL Carolina Panthers, NBA Charlotte Hornets, and NHL Carolina Hurricanes all present in the state.<\/p>\n
North Carolina is additionally a college sports-obsessed state, particularly when it comes to college basketball. Legal sports betting on the ever-lasting feud between the UNC Tar Heels and Duke Blue Devils would presumably generate considerable handle each time the Tobacco Road schools meet at Cameron Indoor Stadium or the Dean Smith Center.<\/p>\n
Fiscal projections believe North Carolina could reap $24 million a year from legal, taxed sports betting. However, before SB688 can reach the House floor and receive a full vote, the legislation must gain approval from three additional House committees, beginning with the Judiciary.<\/p>\n
\nIt’s got a long way to go,” <\/strong>explained Rep. Jason Saine, (R-Lincoln), another supporter of the sports betting effort.<\/p>\n<\/blockquote>\nThere are also opponents to authorizing sports betting. A collection of religious Republicans, plus at least one Democrat, opine that further gambling isn’t needed in North Carolina.<\/p>\n
“However you characterize this, it is a wild expansion of gambling in North Carolina,”<\/strong> declared Rep. Deb Butler (D-New Hanover). “I think that it is clear to me that it is going to affect those who can arguably least afford it the most.”<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"A North Carolina sports betting bill has found new life after sitting idle for more than two months in the Raleigh capital. Senate Bill 688, an act to authorize and regulate sports wagering in North Carolina, passed the General Assembly’s upper chamber in August by a vote of 26-19. The legislation was subsequently moved to […]<\/p>\n","protected":false},"author":25,"featured_media":191342,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,1074],"tags":[],"acf":[],"yoast_head":"\n
North Carolina Sports Betting Bill Revived in State House<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n