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North Carolina allocates $300,000 annually to 13 colleges from sports betting revenue

Regulation

North Carolina’s sports betting legislation allocates $300,000 a year to the athletic departments of 13 colleges and universities, reportedly. The article says the state’s mobile market was expected to launch in the coming months, but the lottery had not announced a date. If revenue cannot cover the full allocation, payments are reduced proportionally; 20% of any excess is shared among the institutions.

The allocation sets out how sports betting revenue could support college athletic departments in North Carolina.

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Brazilian Congress president extends betting ban measure by 60 days

Brazil’s Congress president, Davi Alcolumbre, extended the provisional measure prohibiting fixed-odds betting for a further 60 days, with the decision published on 11 November. The extension gives lawmakers until February to consider the measure, which would end betting authorisations, block websites and apps, and return user balances; the government estimates the ban would reduce revenue by BRL12bn.

Brazil’s provisional ban on fixed-odds betting has been extended by another 60 days by Congress president Davi Alcolumbre. The decision appeared in the federal official gazette on Wednesday 11.

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