North Carolina’s Sports Betting Approval Is A Big Bump For Sportsbooks

Legislators in one of America’s largest and fastest-growing states have approved a bill to introduce sports wagering, providing yet another fertile market territory for gaming operators.

The North Carolina General Assembly passed legislation authorizing sports and horse-race wagering following prior approval by the state Senate — and reversing a defeat to anti-gambling advocates nearly a year ago. 

The bill now moves to Gov. Roy Cooper, who repeatedly has expressed support for the measure. If signed into law, the bill would allow betting as soon as January.

The move eclipses most other state approvals, as the Tar Heel State is the country’s ninth-largest in population with nearly 11 million people, hosts four teams in the five major U.S. pro leagues, and has enjoyed the third-most population growth among states from 2021-22. 

Prominent venues such as Bank of America Stadium and Charlotte Motor Speedway could also house in-person sportsbooks, with the bill allowing up to eight such venues in the state.

It’s another critical market for sportsbooks as they continue to build out a patchwork of legalized states. North Carolina researchers are projecting as much as $100 million in annual tax revenue from sports betting by 2028.

Not So Fast

The two most populous states remain elusive to gaming operators.

Last fall, voters in California overwhelmingly defeated two measures that could have legalized sports wagering there. Sports betting in Texas, meanwhile, is dead until at least 2025 after proposed legislation failed to receive consideration in the state senate — Texas lawmakers meet in alternating years.