North Carolina sports betting bill moves to Senate Finance Committee

House Bill 347 underwent a series of amendments in the Senate Commerce and Insurance Committee.

US.- HB347, a bill to legalise mobile sports betting in North Carolina, has been referred to the Senate Finance Committee by the Senate Commerce and Insurance Committee. The bill was approved with a series of amendments, including a rise in the tax rate from 14 to 18 per cent, the removal of promotional credit deductions from taxable GGR and the inclusion of parimutuel horse race betting, which wasn’t in the House version.

Filed by Representative Jason Saine and a bipartisan group of lawmakers, House Bill 347, advanced out of the North Carolina House in March after a 64-45 vote. North Carolina Governor Roy Cooper has already said he will sign it into law if it passes the Senate.

HB347 would allow online wagering on sports by January 1, 2024. It allows for up to a dozen operators to acquire five-year renewable licences for $1m each. Betting would be permitted on professional, college, electronics and Olympic sports. The North Carolina State Lottery Commission would regulate sports betting, which is currently only allowed at tribal casinos in North Carolina.

Efforts to legalise sports betting in North Carolina failed by a single vote in 2022.