Sports Betting in North Carolina The Focus of Special Meeting on Wednesday
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The North Carolina State Lottery Commission has scheduled an urgent meeting for this Wednesday. The sole item on the agenda is the consideration of "sports betting authorization."
The specifics of this topic are not yet clear. However, this meeting, which was announced on Monday afternoon, coincides with the Lottery Commission's ongoing evaluation of applications for sports betting licenses in North Carolina. In addition, applicants have been instructed to prepare further documentation and procedures, enabling the state regulator to grant certificates of compliance to those who meet the requirements.
No official start date for North Carolina sports betting has been declared as of now. Governor Roy Cooper has expressed his desire for sports betting to be operational in time for the NCAA men’s basketball tournament. Meanwhile, lottery officials are urging applicants to submit the necessary information quickly, which will assist the state's regulatory authority in determining a start date for online gaming.
The team at the commission is asking all applicants to send their proposed internal controls processes by this Friday.
Nine Entities Have Applied for North Carolina Sports Betting Licenses
Exciting news for sports betting enthusiasts in North Carolina! Nine organizations, including big names like Bet365, BetMGM, DraftKings, ESPN BET, Fanatics, FanDuel North Carolina, and Underdog, are in the race to obtain sports betting operator licenses in the state. They all met the lottery's Dec. 27 recommended deadline, aiming to be ready to take bets from day one when mobile sports betting apps kick-off.
Additionally, the Eastern Band of Cherokee Indians and Catawba Nation, the state’s two tribal gaming nations, have joined the fray. Caesars, which manages two casinos for the EBCI, is eyeing a service provider license. The Catawba Nation is still exploring its options, hinting at a possible future dive into online sports betting.
Here's an interesting fact: since a 2019 law, each tribal casino in North Carolina boasts a physical sportsbook. Commercial operators can also set up shop with retail facilities, though these are expected to come a bit later.
For the lucky ones who get the nod for North Carolina betting app licenses, there's a $1 million fee and a renewal charge of the same amount every five years. What's more, these online operators will contribute 18% of their revenues in taxes. These funds will cover a range of needs, from regulatory and administrative expenses to education and treatment for responsible gambling, support for youth and college sports, and a special "major events" fund. Half of this tax revenue will bolster the North Carolina general fund.
Keep an eye on Gambling.com for the hottest North Carolina sportsbook promos, and check back regularly for the latest updates and reviews of approved operators.
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