A new bill was introduced this week in the state senate, allowing the possibility of seeing online sports betting in North Carolina. This is the first legislative effort of North Carolina to legalize online wagering in the state. As many in the sportsbook pay per head industry know, online wagering has a huge potential to be a top revenue generator for anyone, much more a state.
The bill proposes that 10-12 licenses can be given to online sportsbook operators as well as tribal casinos. This is a bipartisan bill that, if passes, could be enacted as early as October this year. The bill will allow the licensed sports betting software companyy to operate under the purview of the North Carolina State Lottery Commission.
This is a great example of the legislature acknowledging the need to expand a gaming market in the state. North Carolina first took in sports bets back in March. However, the wagers in the state can only be made through brick-and-mortar sportsbooks. By adding online sports betting, the state can generate more income from tax revenue. They will also be able to attract a wider customer base, especially during this pandemic when people are asked to stay at home as much as possible.
So far, the bill includes the terms that shows what sportsbooks can offer. Turns out, they are similar to what you will find in a white label bookie software. Bettors can place wagers on pro sports, collegiate sports, eSports and amateur sports with the exception of youth sports. There will be an application fee of $500,000, and the tax rate is proposed at 8%. This is one of the lowest tax rates throughout the country.