You can also make a note of wins or losses from casino gaming and horse racing wagers.Ī sportsbook may issue a Form W-2G when you win a bet. For that reason, it is important to maintain a detailed record of wins and losses, especially if you use more than one sportsbook. You will be responsible for declaring your NC winnings when filing your tax return at the end of the year. They will need to gain approval from the North Carolina Lottery Commission, but that should be a formality, as they have obtained licenses in many states across the country. BetMGM, Caesars Sportsbook, FanDuel, DraftKings and WynnBET are live in Tennessee and Virginia – which have similar tax rates – so, they are highly likely to expand into North Carolina. We expect the country’s leading online sportsbooks to launch in North Carolina. The bill stipulates that these legal sportsbooks will be required to pay an 18% NC sports betting tax on gross gaming revenue.

Eight pro sports venues – including NASCAR tracks and PGA Tour courses – can also build a retail sportsbook within 1.5 miles of their premises. It permits up to 12 sports betting apps and websites to launch in the Tar Heel State. Cooper signed it into law on June 14, 2023, at a special ceremony held at the Spectrum Center in Charlotte. The Senate made a few amendments, but it also approved the bill in June. It cleared the House courtesy of a 64-45 vote later that month. Jason Staine introduced this sports betting bill in March 2023.

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