CHARLOTTE, N.C. — North Carolina is one step closer to sports betting becoming a reality after the North Carolina State Lottery Commission Sports Betting Committee met for the first time.
Governor Roy Cooper signed sports betting into law in June, and in 2024 betting on several sports will be legal in North Carolina.
On Tuesday, the committee voted to approve a rules package, discussing topics like licensing procedures and risk control. The goal is to help reduce any chance of confusion for everyone involved.
Rep. Jason Saine says illegal sports betting has already been happening, and now is the time for it to be regulated.
“What we were seeing was a lot of offshore betting, not fair to consumers,” Saine said.
The state will soon take applications from online sports books after the new state budget eliminated a cap on the number of books allowed. The power of approval will likely shift to sports teams and organizations.
Now, the Sports Betting Committee continues working to get the legislation up and running.
The committee anonymously passed the first proposed rulemaking package for sports betting on Tuesday. It focuses on general provisions and license provisions.
“The biggest reason-- to make sure we've got some guidance some regulators process in place is so that the consumer is not taken advantage of so they understand what the rules of engagement are and the provider has to abide by that," Saine said.
Predictions indicate the state could generate about 100 million dollars in taxes from sports betting by its fifth year. The money will go towards the state's general fund, but also gambling addiction education, and athletic departments at state universities.
"Not only is sports good for entrainment and culture, but it also helps grow our economy significantly," Governor Cooper said back in June.
There will be a public hearing on Friday, Oct. 27 at 9 a.m. in Raleigh. Public comments will be accepted until November 1.
There will be a follow-up presentation with the committee on the set of rules on or about Nov. 14.
The earliest mobile sports betting can launch is January 2024.
To learn about how to participate in the public comment process and to review the Notice, including the proposed rules, please review the document or visit https://nclottery.com/sports-betting.