Gov. Roy Cooper (D) officially signed an expansive North Carolina online sports betting bill into law today, opening a 12-month window for the Tar Heel State to launch online sports betting.

Cooper signed the legislation at Spectrum Center, home of the Charlotte Hornets, this morning. HB 347 legalizes online sports betting and will allow brick-and-mortar sportsbook at eight locations in the state.

“This is a historic moment for the state of North Carolina. This will benefit our economy for generations to come,” Cooper said.

North Carolina online sports betting by June 2024 at latest

The Tar Heel State now legally has 12 months to launch online sports betting. However, operators cannot be licensed until Jan. 8, 2024, so online sports betting and sportsbook cannot open until that date.

Retail sports betting has been legal in the state at tribal casinos since 2019, but this new legislation will expand retail opportunities in North Carolina.

PNC Arena in Raleigh, WakeMed Soccer Park in Cary, Bank of America Stadium and Spectrum Center in Charlotte, Charlotte Motor Speedway in Concord, North Wilkesboro Speedway, Sedgefield Country Club in Greensboro and Quail Hollow Country Club in Charlotte will be eligible to open brick-and-mortar sportsbooks.

Each of the licensed facilities will be allowed to partner with up to one online sports betting operator.

The sports betting bill includes an 18% sports betting tax rate, legalizes pari-mutuel wagering on horse racing, and disallows sports betting operators to deduct promotional bets from their gross revenues. It allows allows bets on professional sports, college sports (including in-state schools), eSports, and the Olympic games.

At an 18% tax rate, the state estimates $22.1 million in total sports wagering tax and fee revenue by FY 2023-2024, which increases to $100.6 million by FY 2027-28.

Professional Teams Celebrate Legalization

Cooper signed the bill at the Spectrum Center, the home arena for the Charlotte Hornets. Hornets Sports & Entertainment released a statement this afternoon thanking the governor for signing the bill in their facility.

“Today is a very exciting day for sports fans across the state of North Carolina. We are honored that Governor Cooper chose to sign today’s historic sports wagering legislation at Spectrum Center, and we thank him for his leadership regarding this issue. We also would like to thank the members of the North Carolina House and Senate for their vision, effort and support throughout the process. This legislation provides fans another exciting opportunity to engage with their favorite sports.”

Don Waddell, President and General Manager of the NHL’s Carolina Hurricanes, also issued a statement to the press this afternoon.

Waddell lauded the “hard work by lawmakers from both sides of the aisle” to get the bill across the finish line and confirmed that PNC Arena has plans to construct a “world-class sports-wagering facility.”

“We will now have the opportunity to build a world-class sports-wagering facility to expand the entertainment options around PNC Arena. Our plans will also include and restaurant and bar available to fans every day, helping to spur additional development in and around the arena district,” he said in the statement.

The North Carolina Courage, a franchise for the National Women’s Soccer League, took to Twitter to issue their statement on the bill’s passage. The Courage play their matches at WakeMed Soccer Park, which will be eligible for an in-person sportsbook. The franchise will be able to partner with an online sports betting operator as well.

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