The prospect of legalizing sports betting in North Carolina is drawing nearer

North Carolina has taken a significant step towards the legalization of sports betting, as its state Senate has successfully voted in favor of a bill that would facilitate this process.

On March 13, House Bill 347 was introduced in North Carolina. After successfully passing the state’s House of Representatives on March 30, it advanced to the Senate and passed on its second reading.

If this bill is enacted into law, it would legalize sports and horse racing betting in North Carolina. The legislation proposes the issuance of a maximum of 12 interactive sports wagering licenses by the state’s Commission. These licenses would encompass professional sports, college sports, esports, amateur sports, and any other sports events approved by the Commission.

The application fee for an interactive sports wagering license is set at $1 million, which would be partially refunded (minus 5%) if the application is approved. Service providers seeking a license would need to pay a $50,000 licensing fee, while a $30,000 application fee would be required for sports wagering supplier licenses.

All licenses would remain valid for a duration of 5 years.

In the previous year, two sports betting bills were passed prior to the conclusion of the legislative session in June. However, they did not progress any further beyond that stage.