California Moves One Step Ahead Towards Sports Betting Legalization

California Moves One Step Ahead Towards Sports Betting Legalization

On Tuesday, the odds of California getting its own sports betting market via a November 2020 ballot. A proposal from Senator Bill Dodd and Assembly member Adam Gray to allow sports betting in the state. If the proposal gets two-third legislative approval, it would make it to the November ballot. Gray said that legalized sports wagering will generate hundreds of millions of dollars for the state which could be used for vital services in the vulnerable communities.

Why focus on sports betting?

Senator Dodd reiterated that California could get its hands on much needed revenue for the state during turbulent economic times. He said that the activity will continue even if the state doesn’t legalize it. By voting for the bill, the lawmakers will give a chance to regulate the industry and protect the consumers. This will also make sure that California gets its “fair share.” He also said that he will be working with stakeholders to refine the measure throughout the legislative process.

California Moves One Step Ahead Towards Sports Betting Legalization

Under their proposal, the tribal casinos and all major racetracks will be authorized to operate athletic wagering at their premises. They will be allowed to do so using mobile devices but have to follow strict rules for age and identity verification via a third party. According to estimates, the US sports betting market is worth $150 billion a year. The state also makes provisions for mobile betting to ensure that the conversion of the market from illegal to legal brings sufficient revenues to their coffers. The state is also planning to ensure that it puts adequate safeguards in place to verify the ages and identities of the bettors. It also plans to use technology to ensure that all mobile gaming devices are physically located within the state of California.

A constitutional amendment

The road to legalizing will not be very easy in California. The proposal by Dodd and Gray needs to meet a two-thirds legislative majority to be included in the November ballot. There is a significant clash of interests between gambling entities in the state, including card rooms and tribal casinos.

However, despite the differences, experts say that the California Sports Wagering and Consumer Protection Act will generate as much as $200 million in its first year. The number may go up to $500 million $700 million in a mature market. The state could use the revenue to support public education and infrastructure needs and funding local governments.

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About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.

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