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North Carolina Sports Betting

March 26, 2023 1

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North Carolina Sports Betting

The North Carolina House Finance and Judiciary committees have approved a bipartisan bill, HB347, that would legalize sports betting in the state. The bill would authorize both online and in-person sports betting and move to the Committee on Rules, Calendar, and Operations of the House, the final stop before a floor vote. The legislation aims to capitalize on illegal sports betting that is already taking place in North Carolina, and it would make the state the 34th to legalize sports gambling in the US, as well as collecting tax revenues. The program will launch with a $14 million loan from the state’s lottery fund, which must be repaid within 36 months, and is estimated to generate between $8 million and $50 million in tax revenues annually.

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