Is Sports Betting Legal in North Carolina?

Is Sports Betting Legal in North Carolina? The initiation of online sports betting in North Carolina is set for March 11, with early registration ongoing until that date. The North Carolina Lottery Commission has granted licenses to eight online sportsbooks for their launch, and they are actively enrolling new clients across the Tar Heel State. Premiumsoccertips will explain everything you need to know about legal sports betting in North Carolina, including minimum age requirements, tax considerations, sports you can wager on, promotional code incentives, and much more.

The status of sports betting in North Carolina

Governor Roy Cooper signed HB 347 into law in June 2023, and the proposed sports betting bill in North Carolina allows for up to 12 top sportsbooks in North Carolina to launch in the state, along with retail sportsbooks at key locations. North Carolina’s online sports betting law took effect in January 2024. The first sports betting apps and websites in North Carolina were allowed to launch on March 11, 2024.

Seven of the nation’s top operators are pre-registering for new customers, including BetMGM, Caesars Sportsbook, ESPN BET, and Fanatics Sportsbook.

Is sports betting legal in North Carolina?

Yes, sports betting is legal in North Carolina. The first retail sportsbooks opened for business at tribal casinos in the Tar Heel State in 2021. Following this, Governor Cooper has signed a bill, thereby legalizing online sports betting in North Carolina and also extending the legality of retail sports betting to non-tribal lands.

The first legal sports betting apps and sports betting websites are expected to launch on March 11, 2024. Eight operators have received licenses for online sports betting in NC from the North Carolina Lottery Commission to operate in the state. The launch date for online sports betting in North Carolina was announced at the end of January.

History of sports betting in North Carolina

March 11, 2024: Online sports betting operators can start taking bets at noon ET.
March 4, 2024: FanDuel announces a partnership with the Carolina Panthers.
March 1, 2024: Registration for licensed online sportsbooks can begin in the state.
February 29, 2004: The North Carolina Lottery Commission approves licenses for Betfair Interactive (FanDuel), BetMGM, Crown NC Gaming (DraftKings), FBG Enterprises Opco (Fanatics), Hillside NC (bet365), Penn Sports Interactive (ESPN BET), tribal casino gaming enterprises, and Underdog sports betting.
February 21, 2024: A spokesperson for the North Carolina Lottery Commission announces that eight operators are preparing to launch on March 11.
January 24, 2024: The North Carolina Lottery Commission announces the launch date for online sports betting services on March 11.
On December 29, 2023: the North Carolina Lottery Commission revealed the list of applicants vying for sports betting licenses, which included prominent operators such as bet365, BetMGM, Caesars Sportsbook North Carolina, DraftKings, Fanatics Sportsbook, FanDuel, ESPN BET, and Underdog Sports.

November 29, 2023: The North Carolina Lottery Commission sets December 27 as the deadline for sportsbooks to apply for licenses, with the commission having 60 days to review applications.
September 28, 2023: Regulatory agency confirms that online sportsbooks must partner with professional sports teams, golf courses, or motor racing tracks.
June 2023: The North Carolina Senate passes the sports betting bill with a vote of 37-11. Subsequently, the North Carolina House approves amendments made by the Senate to HB 347. The online sports betting bill is sent to Governor Cooper for stamping approval and signing at an official ceremony.
March 2023: Representative Jason Saine introduces HB 347. It seeks to legalize online sports betting in NC, along with retail sports betting on non-tribal lands. The House later votes 64-45 in favor of HB 347.

Quick Guide to Sports Betting in North Carolina

In this segment, we will elaborate on the eligibility criteria for individuals engaging in mobile sports betting, online sports betting, and retail sports betting once the online platform is operational in North Carolina. We’ll discuss the minimum age to engage in online sports betting in NC, registration process, and tax considerations.

Legal Age

You must be 21 or older to place sports bets in North Carolina. Before allowing individuals to create accounts, deposit funds, and access sports betting promotions, online sports betting websites or mobile betting apps will need to verify their age. Top bonuses will include BetMGM North Carolina promo code and Caesars Sportsbook North Carolina promo code.

Mobile Sports Betting

The NC sports betting law paves the way for a maximum of 12 online sports betting operators to launch in the Tar Heel State. These operators will have the authorization to provide mobile betting applications and websites. The nation’s top operators have applied for licenses from the North Carolina Lottery Commission, and we’ll see sports betting apps from FanDuel, DraftKings, BetMGM, ESPN BET, Fanatics, bet365, and Caesars Sportsbook available on Day 1.

Remote Registration

Sports bettors will be able to register for online sports betting accounts in North Carolina remotely, from anywhere within the state. Some states, including Illinois, have implemented cumbersome in-person registration requirements as they legalized online sports betting, designed to support retail casinos. However, this won’t be an issue in North Carolina as you’ll be able to register online.

Tax on Winnings

If you make profits from sports betting over the course of a calendar year, you will be liable for sports betting taxes. Nevertheless, losses accrued from both online and retail sports betting endeavors are eligible for deduction from your total betting winnings. Consequently, you will only need to pay taxes if you have net winnings after accounting for your losses.

Quick Guide to Sports Betting in North Carolina

If so, there will be a fixed sports betting tax rate in North Carolina of 5.25%, and you’ll also have to pay federal income tax, depending on the tax bracket you’re in. We advise you to keep detailed records of your wins and losses from sports betting in North Carolina and any other sports betting throughout the year.

Retail Sportsbooks

There are currently some retail sportsbooks at tribal casinos, but they are inconveniently located for most North Carolina residents. Under the recent legislation, eight additional retail sportsbooks are permitted, with each establishment mandated to be situated within a one and a half mile radius of a professional sports venue within the state.

Locations include Bank of America Stadium and Spectrum Center in Charlotte, PNC Arena in Raleigh, WakeMed Soccer Park in Cary. Two PGA Tour locations – Quail Hollow in Charlotte and Sedgefield Country Club in Greensboro – can also open retail sportsbooks, along with NASCAR tracks Charlotte Motor Speedway and North Wilkesboro Speedway.

Within State Borders

You need to be inside the state borders to register for online sports betting in North Carolina. If you’re using a computer, you’ll need to use the GeoComply plugin, while you’ll just need to enable location services on your iPhone or Android device when using sports betting apps.

Conclude

In summary, North Carolina’s sports betting scene is rapidly advancing, with online and retail options now available. With a minimum age of 21, mobile apps like FanDuel and DraftKings offer convenient ways to bet on sports. Retail sportsbooks at key venues add to the excitement. While tax implications and location restrictions apply, the overall outlook is positive, promising entertainment and potential rewards. It’s crucial for participants to stay informed and gamble responsibly.