North Carolina authorizes betting on sports, horse racing

The governor of North Carolina on Wednesday signed a bill that authorizes betting on sports and horse racing in the state, opening up a burgeoning market in one of the fastest-growing states in the United States.

The bill allows wagering to begin as of Jan. 8, but the state’s lottery commission has one year to write the regulations governing the practice. Under the legislation, sports betting will be allowed at eight physical locations, including the state’s most prominent sporting facilities, and the state will be able to issue as many as 12 licenses to mobile sports betting operators.

The bill allows parimutuel betting on horse racing “simulcasts,” which would include parimutuel bets offered on mobile betting platforms. FanDuel, one of the largest mobile sports betting operators in the United States, already offers horse racing to its account holders, and other operators also have business relationships with racing companies.

The legislation also includes a brief paragraph authorizing live racing, but the construction and operation of a new racetrack in the state is considered a longshot without pairing the facility with some type of casino gambling.

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