North Carolina Sports Betting Pushed to March Madness Period
Transcript
00:00 (upbeat music)
00:03 - Okay, starting up sports betting individually
00:05 in terms of states, there's some benchmark dates
00:08 to get started.
00:10 The most bet event in the country every year
00:12 is the Super Bowl, usually number one.
00:14 Number two, generally speaking,
00:16 is the NCAA tournament in March Madness.
00:18 Now, North Carolina is running out of time here.
00:21 You know, Sam, I'm sure that they would love
00:22 to get involved and get up and running
00:25 to just get that injection of money into the state
00:28 in terms of taxes and get money into their sports book,
00:30 but they gotta get cooking here
00:32 because it doesn't look like the Super Bowl is a target.
00:35 - Yeah, it's taken a while for North Carolina
00:37 to even decide about legalizing sports betting
00:41 until it narrowly passed this past year.
00:44 And in that law, it says it has to start by June 14th.
00:47 A lot of people were hoping it would start
00:48 before the Super Bowl, which is a timeline
00:51 that many states have used and tied to their launches.
00:54 Like you said, just because of the buzz around the event
00:56 and because it's the most wagered event,
00:57 and generally it brings in a lot of non-betters
01:01 or people who wouldn't typically bet.
01:03 But it looks like March Madness might be the actual date
01:06 that sports betting starts online in North Carolina
01:09 because the people in charge of it are essentially saying,
01:12 you know, we can't get everything done in time.
01:15 The period post-legalization takes so many different rules
01:20 that you have to pass,
01:23 and then those rules are subject to a period of 30 days
01:25 for comments, and then there's a period of 30 days
01:28 after that where they gather the comments
01:30 and then finalize them.
01:32 So there's so much that goes into that.
01:33 And then that's even before you get applications
01:35 and know what companies are gonna be
01:37 and offering sports betting and having to vet them.
01:40 So essentially North Carolina, they're saying
01:42 it's taking a little bit longer than they had hoped.
01:44 Now, the latest is June 14th.
01:46 So I would imagine that it would be a great thing
01:48 for the Tar Heel State to tie it to March Madness,
01:51 which is obviously, you know, there's some big schools
01:54 in North Carolina that are usually in the tournament.
01:57 So for North Carolinians,
01:59 they probably won't be able to bet by the Super Bowl.
02:01 I'm sure that's not great news,
02:02 but hopefully sometime soon for them
02:04 and hopefully no more further delays in North Carolina.
02:07 (upbeat music)
02:09 [MUSIC]