The Senate Commerce Committee in North Carolina has approved a bill that would allow mobile sportsbooks to launch in the state. The bill, which is known as Senate Bill 688, would allow licensed operators to offer online sports betting to customers within the state.
The bill has been in the works for some time, with lawmakers and industry stakeholders working together to craft a regulatory framework that would be both effective and fair. The legislation would require operators to obtain a license from the North Carolina Education Lottery Commission, which would oversee the industry.
Under the proposed legislation, operators would be required to pay a $500,000 application fee and a $100,000 annual renewal fee. They would also be required to pay a tax rate of 8% on their gross gaming revenue.
The bill has received support from a number of industry stakeholders, including the American Gaming Association (AGA). In a statement, the AGA praised the legislation as a “thoughtful and comprehensive approach” to regulating online sports betting in North Carolina.
“By legalizing and regulating mobile sports betting, North Carolina can generate new revenue for the state and provide consumers with a safe and legal way to bet on sports,” said Bill Miller, president and CEO of the AGA.
The bill still has a long way to go before it becomes law. It must first be approved by the full Senate and then by the House of Representatives. If it passes both chambers, it will then be sent to Governor Roy Cooper for his signature.
Despite the challenges ahead, supporters of the bill remain optimistic. They believe that legalizing mobile sports betting in North Carolina will help to boost the state’s economy and provide consumers with a safe and enjoyable way to bet on their favorite sports teams.
If the bill becomes law, North Carolina will join a growing number of states that have legalized online sports betting in recent years. Currently, more than 20 states have legalized some form of sports betting, with several others considering similar legislation.
