California sports betting is a hot topic these days, despite all sports betting being on pause due to Covid 19.
The sports betting industry continues to grow, and more and more states are discussing what to do with this issue. Sports betting is at the heart of debate in the state of California, but it appears that things are progressing to the next step.
Lawmakers in California have been working towards legalization over the last few months, but it looks like it is the local tribal casinos that are going to get this thing passed. Tribal casinos generally control the gambling/sports betting industry in each state, and that is the case in California.
Eighteen Native American tribes came together to submit a proposal to legalize sports betting by the end of 2020. The problem is going to be that this issue has to be put on the ballot to be legalized in the state, and that requires at least one million signatures.
The 18 Native American tribes must have all of the signatures collected by June 25, and they must report when they have at least 25 percent of the signatures. California currently has 69 tribal casinos in operation throughout the state, and this could be one of the biggest sport betting markets upon legalization.
What A Bill Would Look Like
The details of the sports betting bill are likely going to help sway voters in a certain direction, and it is important to know and understand what is included in this bill. The first thing to consider when it comes to sports betting is how much money the state of California would bring in through taxes.
A 10 percent tax on all gross gaming revenue is being proposed on any bet that is placed at a racetrack.
One of the few drawbacks of this bill is that statewide mobile wagering would be prohibited, which will likely limit the number of potential suitors in California. This particular proposal would also prohibit betting on collegiate sports teams in the state of California, which would limit the number of games available.
Horse racetracks and tribal casinos throughout the state of California would be the only locations that are authorized to apply for a sports betting license and earn approval.
Opponents Want New Proposal
There is a large percentage of people in California that are conflicted about this type of proposal. Some people are fans of legalizing sports betting, but they are not a fan of this proposal as it is currently written.
Several major sports betting companies have already expressed their displeasure and concerns over this bill because they feel it severely limits the earning potential for sportsbooks and the state itself. Proponents for sports betting in California also want to be able to bet on college sports within the state.
California has some terrific professional sports teams, but collegiate sporting events involving teams like UCLA, USC and Stanford play a huge role in the sports scene as well. Opponents of this bill argue that this proposal benefits tribal casinos, but no one else is helped by this new sports betting bill.