North Carolina Senators Introduce News Sports Betting Bill

[ddm]

State Senators Jim Perry and Paul Lowe have introduced a bill that, if passed, will see North Carolina establish a regulated sports betting industry.

Senate Bill 688 proposes that the state issues 12 sports wagering licenses with mobile-only options available. Large sporting venues would be allowed to open dedicated sportsbooks and partner with established operators.

The bill also proposes that 8% of sports wagering revenue would go to the North Carolina Education Lottery Commission. License fees would be set at $500,000 with renewals priced from $10,000 to $100,000.

The news follows the publication of a report just last week that detailed the impact increased betting opportunities would have on the state. The report, published by Spectrum Gaming, projects state revenues of $350 million from sports wagering alone over the next five years.

source: https://gamblingindustrynews.com/new...-betting-bill/

[gamblersconnect]

This is great to hear, more and more states in the US are beginning to open up to legalize betting altogether.

[bpmee]

It's great if you can get a rev-share license or secure a reasonable CPA. It's also good if you have $3-$5K USD to pay for licensing costs and a background check. It's also great if you're a larger operation with financing or solid investors.

I agree it's good for US retail bettors. In the long-run, the US is better off with a regulated market. No sarcasm intended here at all. There will be big opportunities coming for "corporate" affiliates who can target various state media markets.

New York state is also due to consider sports betting this year. The Manhattan market by itself is enormous.

Unfortunately, small affiliate shops (1-2 people) will have a hard time surviving, especially if states deny them licensing after promoting offshores for years (common in NJ, PA, other rev-share states).

Even if you clear that hurdle and have the money to get licensed in several states, you have to compete with US corporate media. They are quickly realizing that depositing customers pay more than someone buying a monthly news subscription.

I'm a little sour in recent weeks. It appears these sites are ramping up SEO, or Google is starting to prefer them (or both). The Mom and Pops competing for 5th and 6th fight over scraps.

The world has changed in recent months and years. Sports betting affiliate marketing is no exception.

[Cash Bonus]

I don’t support regulation for a number of reasons. I do find that the license fees are much too expensive to get a hold of. It also seems to me that reaching a $350 million dollar goal in generated revenue from sports wagering by itself, would be a reasonable goal to aim for. Too bad that's it's mobile options that are available only. Time will tell I guess, once the bill gets given the green light by the senate on May 13. But, I don't feel optimistic at all about this being any good if it happens. In short, regulation is certainly a bad thing imo.

[Sherlock]

You guys are truly incredible.

The discussion why this is horrible even for big affiliates was already here and I will not repeat myself. I already know there will be 50+1 threads how legalising of US betting is a great opportunity at least for big affiliates that will make a fortune with 75 USD CPA or with heavily taxed RS that will end after 24 months (EU standard).

And no, this is not good even for the US players. They now have plenty of bonuses, good lines and fast payouts.
What they will get is regulation, KYC/AML, worse lines, worse bonuses (if at all) and treatment from anonymous rogue corporations instead from established offshore business.

[bpmee]

Sherlock,

Do you have the URL to that discussion? Tried some cursory Googling and didn't find anything.

I was specifically referring to major media sites like CBS Sports, USA Today etc. and corporate affiliates like Catena and Better Collective. They had "clean individuals" or clean US LLCs get their state RS licenses.

With high authority domains and big budgets, mere mentions of "odds" or "Super Bowl betting" put them at the top of Google.

They will do well while their search engine dominance kills off the little guys hanging onto the offshores.

It will only get worse if state attorneys general complain to Google that their results contain "illegal" betting sites. It will be nothing off Google's back to bounce any site with "Bovada", "Bookmaker", "Mybookie" in their copy out of the SERPs.

Just a pessimistic prediction for the sports market. Online casinos still have time and online poker is a different beast entirely.

[Sherlock]

No, I do not have. Up and there here some people jump full of joy from the regulated market.

No doubt some media houses will make some money of it. Money equal to the ****** CPA rates + maybe some premium. Because PPC/CPA will be the benchmark for the price of traffic if I am not mistaken.

So ok, CBSSports will make some extra money, it will seem to them to be great, but just because they are not aware how much the market is worth. In other words I am talking here about opportunity costs. Even the big players will cash out relatively much less than the-now-usual 25-45% (=RS) of net profit from customers they are bringing. The bookies will pay to the few monopolies you quote much less.

However the money saved will not get the bettor (not so big problem he would lose it anyways). The money will be as always lost in silly things like in UK (taxes, UKGC, non-efficient companies...). Either way if you think that better service than Bovada will be provided by WillHill or some crooks like that... well let's wait. Maybe the threat of lawsuit culture will force them to behave.

Either way we will not live forever as slaves of G+FB. US offshore gambling made an underrated milestone in history of cryptocurrencies and co-brought price of BTC from 3 to 4 figures. Maybe they will make another step and bring into the censorship resistant blockchain the whole gambling. If you saw what Calvin Ayre is (maybe) doing now, god knows why on stupid BSV network, it is exactly this: the undergroung platform that will be the gambling itself. But my guess is it will take many years to build such platform. Someone will do it for sure if there is demand. After all whole free internet is going into decentralised underground and the business will follow much faster than by Internet 1.0.

[Pokerface]

Interesting but not really surprising as governments at all levels will be looking for additional revenue to fill the gap during these times. Can only see more opening of the industry in the US and other countries.

[rmeeuwsen]

Interesting but not really surprising as governments at all levels will be looking for additional revenue to fill the gap during these times. Can only see more opening of the industry in the US and other countries.

Yes, open for the big guys with big money. Once those holier-than-thou politicians get past “the evils of gambling” (with the help of generous campaign contributions) they might vote for additional forms of gambling for their constituents (voters, not lobbyists or political parties).