Archives for March 10, 2019

Wow! North Carolina mulls pari-mutuel horse racing wagering bill

The bill calls for North Carolina to establish a Lottery Commission to oversee regulation of the market, as well as handle the accompanying licencing process…

The bill also sets out how 20% of all money wagered at each location would be remitted to the Commission by the licensed organisation. All winnings would be subject to standard state income tax rates.

Consumers over the age of 18 would be able to take part in pari-mutuel wagering under the regulations, but anyone associated with the new Commission would not be permitted to place bets.

Should the bill progress into law, it would come into effect from January 1, 2020.