This week was quite an eventful one at the state senate in North Carolina. As law and decision-makers sit down and discuss new laws and regulations that might come into effect, horse racing might pretty much be on the table. Part of the bill includes gamblers having the possibility to gamble on horses too.
As the US government gives the green light for states to allow gambling, the decision is always down to the respective state to implement gambling or not. As things stand, North Carolina wants to give the green light to horse racing, and sooner ratchet than later we will all be able to head to the race track whilst staying in North Carolina. The new horse racing bill (Senate Bill 629) is currently being sponsored by Senators Paul Lowe, D Forsyth, Jim Perry and also R Lenoir. If the attempt to legalise and launch horse racing in North Carolina does indeed go through, the state would need to set up a Racing Commission that would regulate the market and make sure that everything is aligned with the laws and regulations. The Racing Commission would form part of the already established Lottery Commission.
If we take a closer look at the current stance on horse racing in the state of North Carolina, there are many places that races do take place. Some are done for charity purposes, and other races are done in other locations. Having said that, up until today you cannot place a bet on a horse racing race in North Carolina. Strange but true, yet if this bill will go through, things will change drastically and gambling on horse racing will be legal and the norm. Once horse racing is legal, it will be regulated and 100% legit under the remit of the Lottery Commission.
Senator Lowe stressed that the horse racing industry is massive and will bring with it great economic growth in the state of North Carolina. The extra money that is generated from the betting on a horse will go back to the state and invested in the state budget. With a billion-dollar industry, the opportunities are immense. With a legal race track here and there around the state of North Carolina, there will be more growth with restaurants, shops, malls, and even hotels that will cater for gamblers that are visiting the state to attend the races.
Senator Perry took it a step further and also presented the senate with an additional bill requesting to legalize and also regulate online gaming platforms that allow sports betting to happen. The bill also outlines that only people who are 21 years and over will be allowed to go ahead and make a bet, plus an additional 8% tax will be taxed on the overall gross amount made by the gambling platform.
Just like anything new in life, gambling has always been an argument for debate in the United States, and as the state of North Carolina tries to launch legal gambling, the opposition always tries to halt matters. The issues of problematic gambling have always been the talk of the town, as let’s face it, no state wants to have a gambling issue on its hands. In light of this, the Lotteries Commission took it upon itself to conduct an independent review of the impact of gambling on society in the state. This included the usage of sports betting, casinos and also video poker. It found little impact on social and family life.
Opposing the extension of gambling in the state is the North Carolina Family Policy Council, who asked the Senate to reconsider. The Council stressed that if the gamblers find more outlets to gamble, he/she will always gamble more. Due to this, they have asked lawmakers to scrap their plans and abolish outlets that could increase gambling.
What to expect if North Carolina launches horse betting?
There is always good that comes out from businesses being launched and expansions. In the US, many states are considering legalising gambling and betting just like North Carolina is. Once horse racing is launched, a good amount of horse racing betting sites would want to set up a home in the state. The potential there is just huge. The state would be enjoying a less redundancy rate since gambling always produces a diverse job field. A mall portion of the revenue will be paid via taxes imposed by the state. Money that at the end of the day, will go back invested in the educational system, the embellishments and the promise of a better future.
When North Carolina launches horse betting, the state opportunities are endless, and gamblers can bet on their favourite horse race legally.