North Carolina has joined the states offering legal sports betting, with its market expected to grow significantly in the coming years. While limited to retail sportsbooks, the state is on track to launch online and mobile betting platforms, providing sports fans greater access and flexibility.
Key Points at a Glance
- Launch Date: March 2021 (retail), Expected in 2024 (online)
- Legal Betting Age: 21+
- Who Oversees It: North Carolina Education Lottery
- Where to Bet: Retail sportsbooks (currently), online and mobile betting (coming soon)
- Number of Operators: Limited to tribal casinos (retail); more expected with online launch
- Tax Rate: 18% on online sportsbook revenue (proposed)
A Brief History of Sports Betting in North Carolina
Sports betting in North Carolina was legalized in 2019, but operations didn’t begin until March 2021, when retail sportsbooks opened at two tribal casinos owned by the Eastern Band of Cherokee Indians. This initial rollout focused solely on retail betting, leaving a significant portion of the market untapped.
In 2023, North Carolina passed legislation to legalize online sports betting, which is expected to go live in 2024. The North Carolina Education Lottery will oversee the expanded market, setting the stage for national and regional operators to enter the state.
Where Can You Bet on Sports in North Carolina?
Sports betting in North Carolina is restricted to retail sportsbooks at tribal casinos. However, the forthcoming online launch will significantly expand access:
- Retail Sportsbooks: North Carolina bettors can visit the following locations to place wagers in person:
- Harrah’s Cherokee Casino Resort (Cherokee)
- Harrah’s Cherokee Valley River Casino & Hotel (Murphy)
- Online and Mobile Betting: Expected to launch in mid-2024, online platforms will allow users to place bets anywhere within state borders. Major operators like DraftKings, FanDuel, and BetMGM are anticipated to enter the market.
Sports Betting Rules and Restrictions
North Carolina enforces several rules to ensure responsible and legal sports betting:
- Legal Age: Bettors must be 21 or older to place a wager.
- College Betting: Betting on college sports, including in-state teams, is allowed.
- Location Verification: Online and mobile betting will require users to be physically located within state lines.
- Prohibited Betting Types: Betting on high school sports and non-sporting events, such as elections, is prohibited.
Taxes and Revenue
Once online betting goes live, North Carolina will impose an 18% tax rate on sportsbook revenue. Much of the revenue is earmarked for public education and economic development projects, reflecting the state’s commitment to leveraging sports betting for public benefit.
While retail betting has generated modest revenue, the introduction of online platforms is expected to drive significant growth, placing North Carolina among the top sports betting markets in the Southeast.
The Future of Sports Betting in North Carolina
North Carolina’s sports betting market is poised for rapid expansion with the anticipated launch of online and mobile platforms. Key developments to watch include:
- Increased Operator Participation: Entry of major operators like Caesars and BetRivers.
- Enhanced Betting Options: Introduction of live betting, same-game parlays, and micro-betting.
- Economic Impact: Growth in revenue from online betting will support state-funded initiatives and infrastructure improvements.
How to Start Betting on Sports in North Carolina
- Choose a Licensed Sportsbook: Once online betting launches, select a trusted operator like FanDuel, DraftKings, or Caesars.
- Register and Verify: Sign up through the sportsbook’s website or app and verify your identity.
- Deposit Funds: Add money to your account using secure payment methods.
- Place Your Bet: Explore betting markets, choose your wager, and confirm.
- Withdraw Winnings: Use approved withdrawal methods to cash out your winnings securely.
Conclusion
North Carolina is on the brink of a major transformation in its sports betting landscape. With the upcoming online launch, the state will offer a more competitive and accessible market, catering to casual and experienced bettors.
As regulations evolve and new operators enter the scene, North Carolina is positioned to become a key player in the U.S. sports betting industry, combining strong oversight with a commitment to public benefit.