Preparations underway for the legalization of sports wagering in North Carolina
North Carolina Set to Launch Sports Betting Around March Madness
The North Carolina State Lottery Commission has given permission for gambling operators to apply for a sports betting license, setting in motion the process for legalizing sports betting in the state. This move comes after Governor Roy Cooper signed the gaming bill HB 347 into law in June 2023, permitting up to 12 licenses.
The applications for sports betting licenses were made available by December 1, 2023, with a submission deadline of December 27, 2023. After evaluating these applications, the commission approved seven operator licenses by the end of February 2024. The exact date for when sports betting will be officially legalized in North Carolina is not yet determined, but legalization around the time of March Madness (NCAA Basketball Tournament, March 19 to April 8, 2024) seems more realistic at this point.
The launch of legal sports betting before Super Bowl LVIII, which will take place on February 11, 2024, seems unlikely. However, the conclusion of the process around the time of March Madness could be particularly interesting for North Carolina. Pre-registration for sports betting opened on March 1, 2024, and online sports betting sites went live on March 11, 2024, just before the NCAA March Madness tournament.
Legalizing sports betting could be financially beneficial for the states, with Americans wagering $93.2 billion on legal sports bets in 2022 alone. The commission must finalize the regulatory framework before sports betting can be officially legalized. Operators have ten days to implement any requested changes.
It's worth noting that sports betting is not officially allowed in several U.S. states, including Alabama, Georgia, Minnesota, and Hawaii. In North Carolina, sports betting is currently only allowed in three Native American casinos: Harrah's Cherokee Casino Resort, Harrah's Cherokee Valley River Casino, and Catawba Two Kings Casino.
The University of North Carolina's basketball team (Tar Heels), for which Michael Jordan once played, is one of the most well-known sports teams in the state. The potential for increased revenue from sports betting could provide additional funds for these and other sports teams, as well as for various state projects.
One interesting fact to note is that the first legal sports bet in the state of Ohio was placed by Pete Rose on New Year's Day 2023. As a native of Ohio and a former Major League Baseball player who was banned from baseball for life in 1989 for betting on games while managing the Cincinnati Reds, his bet in Ohio marked a significant moment in the history of sports betting in the United States.
In conclusion, the process for legalizing sports betting in North Carolina is underway, with the potential for legal betting to be available around the time of March Madness 2024. The exact date for when sports betting will be officially legalized is not yet determined, but the state is on track to meet its target. The regulatory framework and specific details for sports betting in North Carolina are still being worked out, and licenses have yet to be issued.
Sports betting enthusiasts in Germany might be intrigued to know that beside North Carolina, several online casinos are also expected to offer sports-betting services to residents once sports betting becomes legal in North Carolina. With the potential launch of legal sports betting in North Carolina around March Madness, German soccer fans could place bets on their favorite sports while watching the NCAA Basketball Tournament.
