Sports betting bill SB 688 has already been approved by the Senate and is awaiting approval from the House.
The Lottery Commission would be responsible for regulating the market and issuing operator licenses.
There are currently only two North Carolina sportsbooks, and they’re both land-based in casinos.
RALEIGH, N.C. – A bill making its way to the North Carolina House of Representatives could be expanding North Carolina sports betting.
Sports Betting Bill
The bill in question –Senate Bill 688– stands to both authorize and regulate a state-sponsored legal sports betting market in North Carolina.
The job of regulating the market would be granted to the Lottery Commission, who would then be responsible for issuing sportsbook operator licenses and overseeing the industry.
“Look at this particular bill as a vehicle to regulate it, make it safe for our citizens, and gain the revenue that comes from that,” said Senator Paul Lowe regarding the bill.
Regulating The Market
Although North Carolina residents already have a regulated sports betting market, it’s small and relegated to just two land-based sportsbooks across the whole state.
A spokesperson for Catawba Two Kings Casino recently said in a statement that they are “planning to add an onsite sportsbook this spring at our temporary gaming venue. We are also monitoring the legislative process on online sports betting, with the hope that it will create new jobs and economic activity for North Carolinians, preserve the jobs of our current and future casino employees and also protect our capital investment in the casino.”
Opening the sports betting market to commercial casinos could benefit the North Carolina state government with millions of extra tax dollars every year, much like it already has for its neighbor state of Virginia.
News tags: Catawba Two Kings Casino | Lottery Commission | North Carolina | Paul Lowe | SB 688
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