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North Carolina sports betting bill re-referred to Committee on Commerce


A bill than aims to authorize and regulate sports wagering in North Carolina has been re-referred to the Committee on Commerce.

Titled Senate Bill 688, the bill  was re-referred yesterday (September 15) after it was withdrawn from the Committee on Rules, Calendar and Operations of the North Carolina State House.

The bill was first filed on April 7 and passed its first reading the following day. After months without activity, it passed its first House reading on August 25.

The bill stipulates that the Commission will authorize between 10 and 12 operators to offer sports wagering.

Applicants for an interactive sports wagering license, which allows operators to offer or receive sports wagers, will be subject to a licensing fee of $500,000.

A tax rate of 8% on adjusted gross revenue applies to each interactive sports wagering operator.

For those applying for a service provider license, the licensing fee will be $25,000.

Sports wagering supplier licenses may be issued to sports wagering suppliers. These licenses come with an application fee of $15,000.

All licenses will be valid for a period of five years.

A renewal application must be submitted more than 60 days before the expiration of a license at a fee of $100,000.

In addition, operators who wish to offer mobile sports betting must provide venues on, or within half a mile of, a sports betting facility to do so.

If the Committee on Commerce is in favor of the bill, it will move to Judiciary 1. If Judiciary 1 votes in its favor, the bill will be referred to the Committee on Finance.

Finally, if the Committee on Finance is in favor of the bill, it will move to the Committee on Rules, Calendar, and Operations of the House.