North Carolina is gearing up for an expansion in its gambling sector by introducing online sports betting. This move sees the state issuing licenses to eight operators, with plans for a grand launch on March 11, just in time for the highly anticipated Atlantic Coast Conference men’s basketball tournament. This development not only opens new revenue streams but also places North Carolina on the map alongside other states that have embraced the lucrative online betting market.
The Dawn of Online Sports Betting in North Carolina
North Carolina has awarded online sports wagering licenses to eight operators, signaling the state’s foray into the burgeoning market of online gambling. This decision comes on the heels of the 2023 legislation that legalized sports betting, under the oversight of the newly established North Carolina State Lottery Commission. Set to go live on March 11, this initiative allows bettors to engage in online betting activities, leveraging both mobile and desktop platforms to place bets on a wide array of sports, including professional leagues, college sports, and Olympic-style events.
Strategic Launch Date and Operator Insights
The selection of March 11 as the launch date is strategic, aligning with the eve of the Atlantic Coast Conference men’s basketball tournament, a major event in the sports calendar. This timing is expected to maximize engagement and participation from the get-go. Among the licensed operators are industry giants such as BETMGM, Underdog Sports Wagering, FanDuel, DraftKings, Fanatics Sportsbook, bet365, and ESPN Bet, with the Eastern Band of Cherokee Indians also securing a spot, thanks to their existing presence in the state’s casino landscape. This diverse lineup of operators is poised to offer a rich betting experience, catering to various preferences and interests.
Expansion Opportunities and Regulatory Framework
The North Carolina State Lottery Commission is set to issue a total of 13 licenses, indicating that more operators could join the fray in the future. The licensing process, which comes with a $1 million price tag, is part of a broader strategy to diversify the state’s gambling offerings beyond traditional casino settings. Operators are encouraged to forge partnerships with local professional sports teams or venues, enriching the sports betting ecosystem and ensuring a comprehensive coverage of betting options for enthusiasts.
Economic Implications and Future Prospects
The introduction of online sports betting is expected to be a financial boon for North Carolina, with projections suggesting over $100 million in annual tax revenues over the next five years. This move not only enhances the state’s competitive edge in the national gambling market but also sets the stage for further innovations and expansions in the sector. As sports betting becomes more integrated into North Carolina’s entertainment and leisure landscape, the state looks forward to reaping the economic and social benefits of this regulated and thriving industry.
Legislative Challenges in Legalizing Sports Betting
Georgia’s journey towards legalizing sports betting is marked by uncertainty and complexity. The Senate Regulated Industries Committee recently passed Senate Bill 172 with an 8-4 vote, a significant step towards legalizing, regulating, and taxing sports betting in the state. Despite this progress, the bill’s future is shrouded in doubt, primarily because it requires a state constitutional amendment for implementation. This necessity has sparked debates and disagreements, further complicating the process.
Athens Republican Bill Cowsert is at the forefront of this initiative, advocating for a constitutional amendment to address what he and other proponents see as an oversight in Georgia’s lottery approval in 1992. The central argument revolves around whether sports betting needs to be regulated under the state lottery, a perspective that faces opposition from various groups, including the Metro Atlanta Chamber of Commerce and professional sports teams in Georgia.
Previous attempts by Cowsert to pass a constitutional amendment did not secure the needed votes, leading to renewed efforts this year. However, challenges in gaining bipartisan support and achieving the required two-thirds majority in both chambers persist.
Divergent Proposals and Allocation of Proceeds
Multiple proposed amendments further complicate the path to legalizing sports betting in Georgia. Senators Carden Summers and Brandon Beach have introduced their proposals, encompassing sports betting, casinos, and betting on horse races. These variations add to the complexity of reaching a consensus among lawmakers.
A critical point of contention is the allocation of proceeds from sports betting. While some proposals suggest channeling funds toward prekindergarten classes and HOPE Scholarships, Democrats are advocating for financing needs-based college scholarships and other initiatives. This divergence reflects the varied interests and priorities within the state legislature.
Konami Gaming and Bravery Gaming Partnership: Expanding Non-Casino Markets
In related developments, Konami Gaming has announced a significant partnership with Bravery Gaming. This collaboration aims to distribute Konami Gaming titles across Georgia’s non-casino markets. As the exclusive distributor for the Konami Group subsidiary, Bravery Gaming will introduce popular titles like China Shores, Jumpin’ Jalapenos, Dragon’s Law, and All Aboard to venues in Georgia, including Coin Operated Amusement Machine (COAM) halls.
Matt Reback, President of Bravery Gaming, expressed excitement about the partnership, highlighting their commitment to delivering top-tier gaming experiences and expanding their reach in regulated markets. Steve Sutherland, CEO and President of Konami Gaming, echoed this sentiment, emphasizing their dedication to making their products available in regulated markets worldwide.
Based in Duluth, Georgia, Bravery Gaming brings valuable industry experience in introducing casino-grade titles into Georgian-regulated, non-casino markets. This partnership is expected to not only enhance the gaming landscape in Georgia but also pave the way for potential expansion into additional non-casino markets in the future.
Introduction to Brazil’s Gaming Legislation
Brazil has recently witnessed a historic moment in its gambling industry with the enactment of new laws governing sports betting and internet casinos. This development came after debates and legislative maneuvers in Brazil’s Chamber of Deputies and the Senate. Despite initial skepticism about a successful vote before February, the Chamber of Deputies approved the legislation last Thursday, marking a significant turn in Brazil’s approach to online gambling.
IBIA’s Role and Reaction
The International Betting and Integrity Association (IBIA) has been a vocal supporter of this legislative development. They have emphasized the importance of implementing robust mechanisms to protect operators, customers, and sports from potential fraud and manipulation.
Khalid Ali, CEO of the IBIA, expressed his organization’s commitment to ensuring betting integrity, stating, “This is a historic moment for sports betting in Brazil and is a major step forward in the fight against match-fixing.”
He highlighted the adoption of specific betting integrity provisions in the law, which the IBIA had been campaigning for since discussions began in 2018. Ali also noted the positive message this sends to other markets in Latin America about the necessity of a regulated sports betting framework with strong integrity provisions.
The Legislative Process and Final Approval
Journey Through the Legislative Chambers
The bill, numbered 3626/23, faced a challenging journey through Brazil’s legislative process. It was initially approved by the Chamber of Deputies in September, with further amendments made by the Senate. Senator Angelo Coronel presented the bill with these amendments on December 12. Despite significant opposition, the Senate passed the bill with three key highlights: excluding igaming, virtual games, and sports betting terminals from the legislation, and approving all taxation recommendations introduced by the Economic Affairs Commission.
Taxation and Regulations
The approved bill sets the Gross Gaming Revenue (GGR) tax limit at 12% and modifies the taxation on winnings. Bettors will be taxed once a year at a rate of 15% on net winnings above a certain threshold. Licensees must pay an initial fee for the right to operate multiple brands. The bill also demands operators to have a Brazilian partner holding at least 20% of the company’s capital in the country. It mandates strict cybersecurity and identification processes, including the potential use of facial recognition technology.
The Debate and Final Approval
The final approval by the Chamber of Deputies came after a heated debate, with Deputy Eli Borges expressing concerns about the societal impact of gambling. However, Arthur Lira, the president of the Chamber, countered these concerns by emphasizing the need for regulation to prevent uncontrolled online gambling and associated risks like money laundering. The Chamber’s decision to retain igaming in the bill was pivotal, as its exclusion would have significantly reduced projected taxation revenue.
What’s Next for Online Gambling in Brazil
The approval of this legislation is a landmark in Brazil’s gambling history. It opens the door for a regulated online gambling market in 2024 and sets the stage for Brazil to achieve its zero fiscal deficit target. This sector’s tax revenues and licensing fees are expected to contribute significantly to various public sectors, including sports, tourism, public safety, education, and social security. As the world watches, Brazil’s journey in regulating online gambling sets a precedent for other countries grappling with similar challenges, especially in Latin America.
Delaware’s recent launch of online sports betting through the BetRivers Sportsbook marks a significant evolution in the state’s approach to sports wagering. This move places Delaware among the 29 states in the U.S. that have legalized online sports betting, reflecting a nationwide trend toward digital gaming platforms. Players will now be able to wager on football, soccer, basketball, and all other major sporting events in real-time.
Before this development, Delaware had a unique standing in the U.S. sports betting landscape. It was one of the first states, alongside Nevada, to offer full-scale, single-game sports betting following the 2018 repeal of the Professional and Amateur Sports Protection Act (PASPA). This historical context is crucial in understanding Delaware’s journey in the betting world.
The Role of Delaware Lottery and Economic Impacts
The Delaware Lottery has been instrumental in this transition. It oversees all sports betting operations within the state, both retail and online. The switch from 888 Holdings to Rush Street Gaming’s BetRivers as the state’s iGaming partner indicates a strategic shift in Delaware’s betting industry. This move broadens the scope of betting options available to residents and significantly contributes to the state’s economy. The Delaware General Fund benefits from the revenue generated, and a portion of the earnings is allocated to the state’s horse racing industry and other vendor fees.
Accessibility and Regulatory Framework
Delaware has established specific legal and accessibility requirements for its online betting platforms. Players must be 21 or older and physically located within the state’s boundaries, a requirement ensured through device location technology. The availability of the BetRivers mobile app on major platforms like Apple’s App Store and Google Play Store facilitates easy access for residents, a crucial factor in the success of these online platforms.
Delaware’s Position in the Regional Betting Landscape
As Delaware ventures into online sports betting and iGaming, it faces competition from neighboring states like New Jersey and Pennsylvania, which have already established a strong presence in the online betting market. The five-year contract with Rush Street Interactive, with potential for extensions, is a testament to Delaware’s commitment to growing and adapting its sports betting infrastructure.
The Future of Online Betting in Delaware
Looking ahead, Delaware’s adoption of online sports betting and iGaming is a pivotal step in its gambling industry. This transition opens new revenue streams and aligns with the broader digitalization trend in the betting world. As the state adapts to these changes and embraces the potential of online platforms, it will be interesting to watch how Delaware positions itself competitively in the increasingly dynamic U.S. betting market.
Delaware’s move to online sports betting and iGaming represents a significant shift in its approach to gambling, offering modern and accessible betting experiences to its residents. This transition demonstrates the state’s adaptability to changing times and signifies its potential to become a significant player in the national betting arena.
American Hans Niemann stunned Chess grandmaster Magnus Carlsen at the popular Sinquefield Cup in September 2022. It was a big win for the 20 year old who beat the number one ranked player in the world for nearly a decade.
His win lost a lot of its shine after Carlsen withdrew from the tournament claiming that Niemann had cheated. Chess.com backed those claims by stating that it was likely that Niemann had cheated over 100 times in online chess games on their platform. Those claims spread like wildfire in the chess community given that Niemann had earlier admitted he did cheat when he was 12 and 16 years old respectively.
However, Niemann refuted all cheating allegations and filed a defamation lawsuit against Chess.com, Magnus Carlsen for $100 million in Oct 2022. That lawsuit was dismissed by a judge in June 2023.
Out Of Court Settlement
Earlier this week, Chess.com announced that all parties settled their differences outside court and confirmed that they did not find any clear evidence to suggest that Niemann had cheated in in-person games while Carlsen released a statement acknowledging that there was no evidence from Chess.com’s investigation that Niemann had cheated Carlsen when he won against him at the Sinquefield Cup. Carlsen confirmed that he will be willing to play Niemann in future tournaments.