CABETS: SATURDAY: The Tribes are Looking to Defeat the Mobile Sports Betting Proposal in 2022
Sports betting continues to be a battle in California between mobile sportsbook operators and the tribal casinos. Tribal casinos only want sports betting to take place inside their gaming facilities and horse race tracks.
How is the Situation Playing Out in California
Billions of dollars could be at stake as California is the most populous state in the United States. Sports betting is currently illegal in California.
It is no surprise that bookmakers and tribes are fighting for control of the lucrative sports betting market in California, home to over 39 million people. According to Wall Street Journal, sports betting could bring the state $50 million in annual revenue.
When the year began, four initiatives had the potential to make it to the November ballot which will take place on November 8th. The tribes had backed an initiative related to mobile sports betting, but on Monday, it seems they are shifting focus as either side refuses to give up an inch of breathing room.
A spokesman for the tribes said that the tribes will continue collecting signatures while earmarking $100 million to “kill” an initiative backed by seven commercial operators. As time passes, the tribes believe the sportsbook operators lose more and more support.
Sports Betting Options in California
Last week, the political committee for the California Solutions to Homelessness and Mental Health Act is backed by the operator. The coalition of bookmakers has submitted $1.6 million signatures to the Security of State as they wait for verification.
Ballot initiatives for the 2022 ballot require 997,139 verified voter signatures, and the operators state that they have 600,000 over that amount. According to its own survey conducted in April, 59 percent of respondents support the commercial initiative.
Until last week, the only proposition that was qualified to be put on the November ballot was the tribal-backed proposal that would allow sports betting to take place at tribal casinos and four race tracks. The pandemic slowed the signature-gathering process as California had some of the strictest restrictions in the country.
The continuous battle will most likely end any time soon as card rooms believe that tribal casinos are looking to destroy their business if they get complete control of the market. The sportsbook coalition also funded $100 million to the committee to gather the required number of signatures.
The bookmakers have also promised another $100 million to lobby voters. On the other, the tribes are expected to spend anywhere between $100 million to $250 million to squash the mobile sports betting proposal that is gaining support in the Golden State.
Will Sports Betting Be Legal in California Soon
Sports betting, especially mobile sports betting, will most likely become legal at some point. California is missing out on a lot of revenue by not hosting a legalized sports gambling market. The most populous state in the country could easily generate more revenue annually than New York.
The question that surrounds sports betting in California is who will end up controlling the lucrative market.
