In the months following the Supreme Court’s decision to strike down a federal ban on sports gambling, several states, including New Jersey and Mississippi, have moved quickly to legalize the practice. Meanwhile, in North Carolina, the issue has received little attention, but experts predict that legalized sports betting will soon become a significant topic of discussion.
The Supreme Court’s ruling effectively gave states the authority to legalize sports betting, opening the door to a potentially lucrative revenue stream for sports leagues. This decision has caught the interest of key figures such as David Tepper, the new owner of the Carolina Panthers, who has mentioned sports betting multiple times since taking ownership. Tepper believes that trends in other states suggest that legalization in North and South Carolina is inevitable and could provide substantial revenue for public needs like education and infrastructure.
New Jersey was the first state to legalize sports betting in June, followed shortly by Delaware, West Virginia, and Mississippi. The practice is also legal in various locations across the U.S., including Las Vegas. Legalizing sports betting could provide states with a new revenue source to support infrastructure, law enforcement, and teacher pay, according to Bill Squadron, a professor of sport management at Elon University. Additionally, legalized sports betting could increase fan engagement in sports, as fans might be more likely to watch or attend games if they have money riding on the outcome.
The potential economic impact of legalized sports betting is significant. A report from Nielsen and the American Gaming Association estimates that the NFL’s annual revenue could increase by $2.3 billion with nationwide legalization, benefiting media rights, sponsorships, merchandise, and ticket sales.
Prominent sports figures have also shown support for legalization. NBA Commissioner Adam Silver has been vocal about the benefits of legalizing sports betting, advocating for regulation and transparency to manage the substantial illegal betting market, estimated at $400 billion annually. In a landmark move, the NBA partnered with MGM Resorts, making it the first major U.S. sports league to strike a sponsorship deal with a sportsbook operator.
In the Carolinas, legislative leaders are beginning to address the possibility of legalizing sports betting. N.C. Senate leader Phil Berger noted that it’s still early to determine how the state will approach the issue, but discussions are expected in the upcoming legislative session. Rep. John Hardister, the North Carolina House majority whip, and other lawmakers have shown interest in creating a regulatory framework for sports betting, emphasizing the potential benefits for education and addiction treatment.
In South Carolina, there is already enthusiasm for legalization. S.C. House Minority Leader Todd Rutherford has introduced legislation to amend the state’s constitution to allow sports betting and plans to reintroduce the bill. He argues that legalizing sports betting would enable the state to tax the activity and generate revenue from an already prevalent practice.
The Carolina Panthers, given their location near the South Carolina border, could play a significant role in the push for legalization in both states. Team owner David Tepper has hinted at potential developments, such as building a new practice complex, which could be influenced by the legal status of sports betting in the region.
As the legislative sessions approach, the conversation around sports betting in the Carolinas is expected to intensify. Legalizing sports betting presents an opportunity to tap into a substantial revenue source, support public services, and enhance fan engagement in sports. Lawmakers and stakeholders will likely continue to explore the best approaches to regulate and benefit from this emerging industry.
