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North Carolina Republicans Take a Gamble on Senate Bill 688

In major news for sports bettors of North Carolina, the state’s Senate just voted in favor of domestic sports betting. Republican leaders in the Senate put the bill to a vote this week, despite waning popularity across the party.

Domestic NC Sports Betting to Become a Reality

Because sports betting is a bi-partisan issue, both Republicans and Democrats were seen coming together to ensure a favorable outcome. The bill was approved in a 26-19 vote on Thursday. From here, the bill must win approval from the House of Representatives before it is up for enactment.

The reception of new sports betting legislation across the nation has been remarkably positive, as the business venture stands to offer millions in tax revenues for state and local governments.

Oppositionists to sports betting in North Carolina cite social problems associated with sports betting. However, much of this talk can be attributed to baseless stereotypes.

Many of the “dangers” of sports betting come from a lack of regulation. There is no need to worry about a bookie knocking at the door when patrons can’t bet more than they can deposit. Drug rings cannot be facilitated in the presence of legislative oversight.

Will The Bill Succeed?

As it stands, North Carolinians already have several modes of access to both online and mobile sports betting services. Offshore betting sites offer the same perks of a domestic sportsbook and then some.

State legislators against domestic sports betting are prolonging the inevitable and losing out on funding for critical government programs like education.

Lead sponsors of the sports betting bill have been trying to drill this into the heads of their colleagues. Sen. Jim Perry expects the bill to perform well, predicting upwards of $40 million in annual tax revenue for the state.

“I believe I owe it to the people I represent to try to find alternative means to try to meet the needs of the community.”

The sports betting legislation aims to distribute 10-12 licenses to eligible businesses such as athletic teams. Should the bill go forward, all sports betting operations will be overseen by the North Carolina Lottery Commission.

Each sports betting operator would be subject to an 8% gross revenue tax, along with initial capital investment and other administration fees.

Furthering The Fight

For eager sports bettors in North Carolina, the fight isn’t over. Senate Bill 688 has several hurdles to clear before residents can start celebrating (and betting).

Thanks to PASPA, it is a state’s right to decide on gambling expansion. North Carolinians, it is up to you to have your voice heard.

Of course, you can still place mobile sports bets with ease. But it is up to the state legislature to choose whether they want to benefit from this booming industry. Nonetheless, the legislature could use a little push.