Today could be considered a historic day in North Carolina. For the first time, legal sports wagers are being taken in an in-state sportsbook as The Book sportsbooks at two casinos operated by the Eastern Band of Cherokee Indians have officially launched this morning. Per recently-passed legislation, only those two casinos are authorized to accept sports bets. Sports gambling arrives in the Tar Heel State just in time for March Madness.
The tribe operates a Harrah’s casino in the cities of Cherokee and Murphy, both in the western part of the state. Through a partnership with William Hill and Caesars Entertainment, is ready to start accepting bets. Richard Sneed, principal chief of the local Cherokee tribe, said in a press release, “We are excited to offer legal sports betting at The Book, and just in time for March Madness. We would like to thank our partners at William Hill and Harrah’s Cherokee Casinos, as well as state leaders, for making this opening possible.”
North Carolina lawmakers and the tribe reached an agreement late last year to modify the existing tribal compact and allow sports gambling. Before being finalized, however, the US Department of the Interior, through its Bureau of Indian Affairs division, had to sign off on the arrangement. That approval came at the beginning of this month, finally setting the state for North Carolina sportsbooks to go live. Governor Roy Cooper said when the BIA approved the agreement, ”COVID-19 has negatively impacted funding for critical community services within our Nation and this new diverse revenue stream is a positive step toward a more stable and secure future for our Tribal members and government operations.”
In 2019, North Carolina was poised to embrace sports gambling, working on legislation that would allow the two Harrah’s casinos to offer sportsbooks. The state legislature passed a sports gambling bill that was later signed into law by Cooper in July of that year. However, that was only the first step, as the tribal compact needed to be amended and approved by state and federal authorities before any sportsbooks could open.
Although only two sportsbooks are now live in the state and only in-person wagers are allowed, that could soon change. Legislation is reportedly being considered, absent a submitted bill, by lawmakers that would expand North Carolina’s sports gambling market. That legislation could be introduced in the following weeks and, if there are no major obstacles, it’s possible that the state could approve the issuance of more sportsbook operator licenses sometime this summer.
Tennessee and Virginia both offer sports gambling markets that have been performing better than expected. As two close neighbors of North Carolina, they are likely drawing some sports gamblers away from the state, which is impacting its potential revenue channels. With a nationwide handle of more than $44 billion since the Supreme Court defeated PASPA in May of 2018, there exists massive potential for sports gambling to offer North Carolina a wellspring of needed revenue.
