March Madness seems to get better every year, and the 2022 version has not disappointed. Some favorites have dominated, while others have been dumped out much sooner than expected. Every tournament needs a Cinderella, and Saint Peter’s is one of the most heartwarming underdogs in recent memory. This tournament has shown that anything can happen, and US bettors have had a great time trying to predict these games and sometimes making great profits.
In North Carolina, a new bill is making its way through the state legislature to legalize sports betting. This bill would allow 12 operators to enter the market and provide legal sports gambling – an exciting prospect for North Carolina bettors. Could DraftKings, FanDuel, or BetMGM try to make a splash in the North Carolina pool?
The Bill – 688
The bill is likely to change as it progresses being passed. However, so far, this is the proposed bill:
- 10-12 operators can apply for a license.
- The bill could become law in October if it were passed this year.
- Only individuals 21 years and older will be allowed to wager on sports.
- The North Carolina Lottery Commission will regulate and monitor sports gambling.
- Professional sports, amateur sports, college sports, and electronic sports can all be wagered on.
- Licensed operators must pay a $500,000 application fee and tax of 8% to North Carolina.
- Through this taxation, half of it will be donated to a new North Carolina Major Events, Games, and Attractions Fund. This will promote and sponsor sports, entertainment, political, and music events in the state.
- To place wagers, players must register with a bookmaker.
- Individuals can make bets online and at sports facilities that offer it.
What Do The People Of North Carolina Think?
In a recent survey, individuals in North Carolina were asked did they want sports gambling to be legalized within the Tar Heel State. The response was interesting; East Carolina University research found 54% of people voted in favor of sports gambling, and 46% opposed the notion. Even though North Carolina has six casinos, only two of them offer some sort of sports wagering. Many North Carolinians are keen to see this expanded and hopefully be able to place bets on the Carolina Panthers by the 2022 NFL season.
Although it appears 50/50, others believe legalizing sports betting would boost the North Carolina economy. Elon Univerisity Professor Bill Squadron said that people bet on sports and will continue whether it’s legal. Instead of keeping it underground, we should regulate, monitor, and tax it. Sports betting generates revenue, and it creates a new industry in the state.
What Do The Politicians Think?
Overall, the bill has received support from both Republicans and Democrats. Similar to Professor Bill Squadron’s opinion, the bill’s chief sponsor, Republican Sen. Jim Perry, believes many individuals are already betting through out-of-state sites or illegally. Therefore, it would be better to regulate it and also educate people about how to gamble responsibly.
However, other members of society, such as executive director of the Christian Action League of North Carolina, Reverand March Creech, recently said: “The most predatory industry in the country purposefully targets and exploits the financially desperate and cultivates addiction for profits.”
Although many believe this notion, Sen Jim Perry stated only a small number of Americans have a gambling issue, and if they can’t gamble, they may look to another addiction to fill a void.
Thanks to the annulment of PASPA in 2018, states have had the opportunity to legalize betting. For North Carolina, lotteries and gambling at brick-and-mortar casinos are legal. However, sports betting and any form of online gambling are still illegal for those in North Carolina. But, there is light at the end of the tunnel as discussions for a new bill are conducted. This means people in North Carolina might be able to place a bet while enjoying their favorite sports in the near future.
In the meantime, visit BestAppBet today, sign up and claim free bets to place on your top sports!
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