North Carolina committee passes limited sports betting bill

Another senate committee has passed North Carolina’s bill to allow land-based and online sports betting, but only at or near sports venues.

US.- North Carolina’s Senate Bill 688 has cleared another senate committee as the state looks to legalise both land-based and online sports betting.

The Committee On Rules and Operations of the Senate has favorably reported the bill, which would allow retail and online sports betting in the state with restrictions.

Should the bill ultimately pass, gamblers will be able to bet only at, or within half a mile of, “sports facilities” or property owned by sports organisations, whether in person or online.

The venues permitted are those “that host professional sports and have a minimum seating capacity of 17,000 people or a facility that hosts a professional golf tournament annually.”

SB 688 would allow the state lottery to issue 10-12 operating licences that would last five years and have an initial fee of $500,000 and $100,000 renewal fee.

Platform and odds providers would be able to apply for licences paying the $25,000 aplication fee and a $10,000 renewal fee, while other providers would be required to pay $15,000 and $5,000, respectively.

The state would create a North Carolina Major Events, Games, and Attractions Fund, which would take half of the 8 per cent tax on operators’ adjusted revenue, after accounting for bonuses worth up to 4 per cent of gross revenue.

The funds would aim to “promote the attraction of major events to the State which stimulate economic activity and create jobs.”