North Carolina Explores Expanding Sports Betting Market Structure

North Carolina Explores Expanding Sports Betting Market Structure

North Carolina sports betting

The debate about whether or not mobile sports betting is legal in North Carolina goes on, and a new study says that if the practice is made legal, it could lead to more gambling all over the state.

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Expansion to the Betting Industry Becoming Possible 

Residents of North Carolina currently have access to a restricted number of gaming venues. Raffles, charitable bingo, and casino gambling are all available in this state.

However, casino gambling is only permitted in the state’s three Indian casinos, which are located on tribal land. These venues not only provide casino games but also allow bets on sporting events to be placed. Despite this, the activity is only allowed in retail betting establishments.

Now, there is a new report that claims that an expansion of statewide online sports betting may make it possible for additional casinos to build in the state of North Carolina.

According to a report from the General Assembly of the state, which was made public by the Asheville Watchdog, it is possible that the state of North Carolina will open up to nine new gambling establishments across the state. One of these establishments may be located in Asheville.

The Potential Growth of Casino Gambling in North Carolina 

At the moment, North Carolina’s three tribal casinos are required to pay a tax of 6% on the winnings they make from gaming. Gambling may be enjoyed at Harrah’s Cherokee Casino Resort, Harrah’s Cherokee Valley River, and Catawba Two Kings Casino, which are the three casinos in the area.

On the other hand, one might anticipate a sizeable increase in revenue in the event that the legalization of sports betting leads to an expansion of gambling throughout the state. According to a report that was recently distributed by Spectrum Gaming Group, the presence of a casino in Asheville is projected to result in the generation of around $113 million a year from gaming activities.

Taking a step back and looking at the bigger picture, the research states that it is expected that gaming venues across the state would bring in more than $2 billion in revenue thanks to the provision of various forms of gambling as well as wagering on horse racing.

The analysis forecasts the opening of nine new gambling establishments, each of which will include around 19,000 slot machines and 648 table games. According to the analysis by Spectrum, the legalization of such activities may bring in more than $420 million in additional tax revenue for the state of North Carolina by the third year.

Comparing the Pros and Cons of Increasing Gambling in North Carolina

People who support the initiative think that a statewide extension of this kind will help the state’s economy in a big way. Spectrum’s research shows that this is the case. In addition to bringing in more tax money, large-scale gambling sites are also expected to bring in more tourists, create new jobs, and help local businesses.

At the same time, expanding gaming throughout the state and introducing internet betting has the potential to drastically cut down on the black market’s share.

Further Discussion of the Legalization of Betting Continues 

Opponents of the proposed expansion of gambling point to worries about a rise in the number of people who become addicted to gambling as the primary reason for their opposition.

According to the National Council on Problem Gambling, the incidence of problem gambling goes up significantly when there is involvement with sports betting.

The Council also came to the conclusion that even more people would have gambling problems if it were legal to bet on sports events over the internet.

The beginning of the legislative season brings with it the certainty that legislators will discuss online sports betting legislation during the course of the season.

Nevertheless, it is still uncertain whether or not such a plan would be approved given that the activity receives support and rejection from both parties. Because of this, it’s still not likely that gambling will be allowed in more parts of the state. 

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About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.