Horse racing betting is not legally permitted in North Carolina at this time. There are no licensed racetracks or off-track betting facilities in the state. However, residents of North Carolina can legally bet on horse races online through licensed sportsbooks located in other states that allow online gambling. These sportsbooks offer a wide range of betting options, including win, place, and show bets, as well as exotic wagers like exactas and trifectas. To bet on horse races online, North Carolina residents must create an account with a licensed sportsbook and fund their account using a credit card, debit card, or electronic wallet. Once their account is funded, they can browse the available horse races and place their bets.
Horse Racing Betting in North Carolina
North Carolina allows horse race betting through off-track betting facilities (OTBs). These facilities offer a legal and regulated environment for wagering on horse races from around the country. Here’s an overview of horse racing betting in North Carolina:
Off-Track Betting Facilities in North Carolina
There are currently three OTBs operating in North Carolina:
* Catawba Two Kings Casino Resort in Kings Mountain
* Harrah’s Cherokee Casino Resort in Cherokee
* Harrah’s Cherokee Valley River Casino & Hotel in Murphy
These facilities offer a range of betting options, including win, place, show, and exotic bets such as trifectas and superfectas. They also have live streaming of races from major tracks, as well as dining and entertainment options.
Historical Horse Racing in North Carolina
Pari-mutuel wagering on horse racing is not currently legal in North Carolina. However, in 2006 the legislature passed a law allowing for historical horse racing (HHR) machines in four counties with existing casinos.
These machines use real-time footage of previously run races, and allow players to bet on the outcome. They have been controversial in North Carolina, with some critics arguing that they are a form of gambling and should not be allowed.
In 2019, the North Carolina Supreme Court ruled that HHR machines were not illegal gambling devices. This decision allowed casinos to continue operating them, but the issue is still being debated in the legislature.
- In 2006, the North Carolina legislature passed a law allowing for historical horse racing (HHR) machines in four counties with existing casinos.
- HHR machines use real-time footage of previously run races, and allow players to bet on the outcome.
- In 2019, the North Carolina Supreme Court ruled that HHR machines were not illegal gambling devices.
| County | Casino | Number of HHR machines |
|---|---|---|
| Cherokee | Harrah’s Cherokee Casino | 800 |
| Graham | Harrah’s Cherokee Valley River Casino | 600 |
| Jackson | Harrah’s Cherokee Casino – Murphy | 400 |
| Swain | Harrah’s Cherokee Casino – Asheville | 400 |
Daily Fantasy Horse Racing in North Carolina
Daily fantasy horse racing (DFS) is a popular way to bet on horse racing in North Carolina. DFS allows players to create virtual stables of horses and compete against other players for cash prizes. DFS is legal in North Carolina and is offered by a number of different websites and mobile apps.
- DraftKings
- FanDuel
- Yahoo! Sports
To play DFS, players must first create an account with a DFS website or app. Once an account has been created, players can deposit funds into their account and begin creating stables of horses. Stables can be created for any number of races, and players can choose to enter their stables into paid contests or free contests.
In paid contests, players compete against other players for cash prizes. The amount of money that a player can win in a paid contest depends on the number of players in the contest and the prize pool. In free contests, players compete for free prizes, such as DFS credits or merchandise.
DFS is a fun and exciting way to bet on horse racing in North Carolina. DFS is also a great way to learn about horse racing and to improve your handicapping skills.
Getting Started with DFS
- Create an account with a DFS website or app.
- Deposit funds into your account.
- Create a stable of horses for a race.
- Enter your stable into a paid contest or a free contest.
- Watch the race and cheer on your horses!
DFS Tips
- Do your research before creating a stable of horses. This includes reading about the horses, the jockeys, and the trainers.
- Consider the weather and track conditions when making your picks.
- Don’t be afraid to experiment with different strategies.
- Have fun!
Legal Implications of Horse Racing Betting in North Carolina
Horse racing betting is a popular activity in many states, but its legality can vary from one state to another. In North Carolina, horse racing betting is allowed through pari-mutuel wagering at licensed and regulated racetracks.
Pari-mutuel wagering is a system where bettors pool their money and the winnings are distributed among the winning bettors. The racetrack takes a percentage of the pool as a commission.
Types of Pari-mutuel Bets
- Win bet: Bet on a horse to win the race.
- Place bet: Bet on a horse to finish in the first or second place.
- Show bet: Bet on a horse to finish in the first, second, or third place.
- Exotic bets: Bets on multiple horses in various combinations, such as exactas, trifectas, and superfectas.
Taxes on Horse Racing Winnings
Winnings from horse racing bets are subject to federal and state taxes.
| Tax | Rate |
|---|---|
| Federal income tax | Varies based on tax bracket |
| North Carolina state withholding tax | 5% |
It is important to note that only licensed and regulated racetracks in North Carolina are authorized to offer pari-mutuel horse racing betting. Betting on horse races outside of these tracks is illegal and could result in criminal charges.
Well, there you have it, folks! You now know all the ins and outs of betting on horse racing in the Tar Heel State. Whether you’re a seasoned pro or just starting out, you’re all set to join in on the excitement. Thanks for sticking with me until the end. I hope you found this article helpful. If you have any more questions, feel free to drop me a line. In the meantime, be sure to check back for more updates on horse racing in North Carolina and beyond. Until next time, good luck and happy betting!