Sports betting bill passes second reading in NC Senate
RALEIGH, N.C. (WTVD) -- The reality of legal sports gambling got another step closer Wednesday when the bill passed its second reading in the NC Senate.
By a vote of 38-11, House Bill 347 passed a second reading--meaning it will be read and voted on one more time in the Senate. If it passes, it will then head back to the NC House to be reviewed once again.
House Bill 347 would allow bets on college, professional and other sports on your phone or other electronic devices.
It would also authorize the creation of eight in-person sportsbooks at venues across the state.
A report from Spectrum Gaming Group predicts more than $500 million in revenue by the 3rd year.
This would mean the state would take in nearly $92 million based on an 18% tax rate.
The money is expected to go towards smaller sports programs in the UNC system and problem gambling programs.
"People love sports in this state. And so if Virginia is seeing $500 million a month being wagered there I think we can expect that that number will be exceeded in North Carolina once it gets up and running," said Bill Squadron who is an assistant professor of sports management at Elon University.
There is some opposition to this bill.
Some people are thinking about the negative impact this could have on the younger generation.
