The House Judiciary Committee in North Carolina has passed two new bills that mean sports wagering could be coming to the state. The move comes just nine days before the end of the legislative session which is set to wrap up on June 30th.
The next step is for the bills to be brought to North Carolina’s House Finance Committee to be heard.
The first reading for the main sports betting bill, known as Senate Bill 688, was held on the 8th of April 2021.
The first reading for Senate Bill 38 was held on the 1st February 2021 and outlined amendments for sports wagering restrictions in North Carolina.
Senate Bill 688 outlines that any applications for sports betting supplier licenses must be accompanied by a license fee of $15,000. Those applying for an interactive sports wagering license must pay a $500,000 fee and those looking to apply for a service provider license will be required to pay a $25,000 fee.
These licenses will all be valid for 5 years and can be renewed for a fee of $5,000, $100,000 or $5,000 respectively.
Interactive sports betting operators are required to pay a tax of 8% of their adjusted gross revenue each month to the commission.
Senate Bill 38, however, outlines that interactive sports wagering license applicants would be required to pay a fee of $1,000,000. These fees would be $50,000 for a service provider license and $30,000 for a sports wagering supplier license.
The bill aimed at bringing online sports betting to the state of North Carolina has been making slow progress throughout the last year, particularly after it stalled in November.
