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California Getting Closer to Incorporating Legal Sports Betting

Although it has not yet fully entered into the theme of next year’s election campaign, legal sports betting in California seems to be getting closer and closer to getting its approval. As in other states, Golden State has the possibility that legislators discuss their tax benefits and the Senate, together with the Assembly, support the initiative.

The promoters of this idea are Senator Bill Dodd and Assemblyman Adam Gray, who have a bill ready to update the state constitution and allow the legal sports game to be introduced. The deadline to add support in the Senate is June 2020, so that the bill passes to the Assembly, where a two-thirds majority is required to be approved and the issue is included in the ballot for the elections next November.

The advantage in this opportunity is that the Democrats who are in favor of the project control both houses. So if Governor Gavin Newsom even vetoed the initiative, there would be enough support to overturn his decision. Although the governor of California cannot prevent the issue from being included on the ballot if it is approved by lawmakers and voters, if he could then try to block any legislative initiative on sports betting.

“We want to get an initiative on the ballot that voters can understand, that is easy to understand, and perhaps in the process it may bring all gaming institutions: game rooms, horse races, tribal casinos, all together.” , Dodd explained during an interview with local channel KTXL affiliated with Fox News.

So far one of the biggest obstacles facing lawmakers who sponsor the bill is to convince the state’s tribes. The natives have 70 casinos in the state and do not want to add competition to their businesses. They have opposed any other game proposal that is not controlled by them.
California has the necessary conditions for sports betting to thrive, as it is the headquarters of 16 professional sports teams in the NFL, MLB, NBA and NHL leagues. This means that, through betting, the state can obtain great tax benefits that are currently taken advantage of by other states, including the neighboring Nevada where Californians go in search of game.

While the initiative of legislators Dodd and Gray does not include mobile betting, it is believed that its inclusion in final legislation is almost certain. Both the online and mobile sports game will end up controlling 90% of the gaming market in the next ten years, as most forecasts indicate.

Due to the difficult geography of California, most of its residents stay away from current casinos. So playing online is the easiest and smartest option they have and is the best way to maximize returns.

Source: https://calvinayre.com/2019/11/04/business/california-moves-a-little-closer-to-legal-sports-wagers/

About the author

Santiago Contreras

Santiago Contreras

I am a professional journalist dedicated to tracking news related to the stock market, business, finance, blockchain and economics. It is a hobby that I share with sports in general, with special attention to tennis, basketball and soccer. I like to offer our readers relevant, entertaining and useful content to help them inform themselves and make decisions every day. Thanks for reading me!

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