Fri. Dec 1st, 2023

North Carolina Set to Introduce Sports Betting in 2024

The North Carolina State Lottery Commission has revealed its proposed regulations for overseeing sports betting in the state. This comes after lawmakers approved in-person and online sports betting earlier this year, following the absence of commercial casinos in the state. The commission gathered input from sports betting experts to develop the proposed rules, which were published on Tuesday.

One of the key aspects of the proposed regulations is the allowance for anonymous bets of up to $10,000 in person. However, any bets or payouts exceeding this amount would require the better to provide personal details such as name, date of birth, address, and social security number.

Furthermore, the regulations state that all sports betting advertisements must include a statement indicating that wagering is restricted to individuals 21 and older, in addition to prohibiting marketing deals with colleges and universities. Sportsbooks will also be prohibited from advertising on platforms where at least 25% of the audience is expected to be underaged persons.

In terms of the venues that can offer in-venue sportsbooks, the law enables four professional sports stadiums, as well as Charlotte Motor Speedway and two country clubs, to operate “temporary” retail sportsbooks during their events.

However, the proposed rules include a stipulation that major sportsbook companies such as DraftKings and BetMGM would be prohibited from being the primary sponsors of these venues.

The law requires that sports betting operations commence between January 8, 2024, and June 15, 2024. Additionally, each stadium can partner with one online sports betting operator, with a one-time licensing fee of $1 million and operators sharing 18% of their gross proceeds with the state.

A public hearing on the proposed rules is scheduled for later this month, with the public able to submit comments through November 27. It remains to be seen how these proposed regulations will impact the landscape of sports betting in North Carolina.

By admin

Related Post