North Carolina residents have limited gambling options. There are raffles and charitable bingo. Casino gambling is only available at the three Indian casinos located on tribal land within the state. These casinos offer both casino games and sports betting. The activity is limited to retail betting.
A new report indicates that North Carolina may soon have additional online casinos due to an expansion of the state’s online sports betting. According to the Asheville Watchdog, the state could open up to nine new gambling venues in the state.
Online Betting in North Carolina May Propel Casino Gambling
The Tribal casinos in North Carolina currently pay a 6% tax on gaming revenue. Harrah’s Cherokee Casino Resort, Harrah’s Cherokee Valley River, and Catawba two Kings Casino are the three places where you can gamble.
The proceeds could be substantial if the legalization of sports betting drives a statewide expansion of gambling. Spectrum Gaming Group has released a report that predicts that Asheville will have a casino and that gambling activities will generate $113 million annually.
The report says that gambling venues in the state will generate more than $2B by offering both different types of gambling and betting on horse racing. The report projects nine new gambling venues that will offer nearly 19,000 slot machines and 648 table games. According to Spectrum’s report, legalization could bring in more than $420 millions in tax revenue for North Carolina in the third year.
Expanding North Carolina Gambling: The Benefits and Drawbacks
According to supporters, such a statewide expansion is expected to provide significant economic stimulus for the state. Spectrum’s report shows that large-scale gambling venues will not only generate tax revenue but also boost tourism and create new jobs. The black market can be significantly reduced by expanding online and statewide gambling.
Opponents of expanding gambling cite concerns about increased addictions, despite the potential benefits. The National Council on Problem Gambling warns that when sports betting is included, the rate for problem gambling rises. The Council also warned that online gambling could increase the risk of developing problems with gambling.
Legislators will hear online sports betting proposals at the beginning of the legislative session. It is not clear if such a proposal will be approved, as both the support and opposition to the activity are there. The possibility of a statewide expansion of gambling is therefore not likely.
