Every single day, US states are losing money. Many businesses around the country remain shut down and lawmakers are looking at new and effective ways to generate revenue. Recently, state leaders have begun taking a closer look at allowing legal sports betting in California.
More than 20 states have already legalized this form of wagering. Most of them are earning an incredible amount of money every month from this industry. Today, we’re going to look at what needs to be done in order to get California’s sports betting industry up and running.
Let’s get into it!
California’s Casino Industry is Slowly Coming Back to Life
California doesn’t have a reputation for being a major gambling destination. That’s likely because this state has not legalized commercial casino gambling. At the moment, only Native American-run gambling venues are able to legally operate.
With that being said, there is an large number of world-class casinos operating in this state. Many of the casinos here are hugely successful. All of the casinos in California help to bring the state valuable revenue every single month.
Unfortunately, that revenue had stopped flowing in over the past three months. All casinos here closed their doors in March. Over the past two weeks, however, some of these gaming venues have decided to reopen their doors to the public.
Rates of Covid-19 have been relatively low in California. As a result, Governor Newsom is allowing certain businesses to slowly open back up. The casinos in this state sit on sovereign land, meaning they are able to open at their own pace.
It’s clear that many residents in this state missed being able to gamble. Some of the casinos that reopened have seen long lines of guests looking to place some bets. Now, state leaders are looking more into the possibility of legalizing sports betting.
Legal Sports Betting in California Should Arrive in 2020
The surge of sports betting can be seen all around the country right now. It’s been incredible to watch, especially considering the fact that just a few years ago, only Nevada was legally able to offer sports betting odds. This finally changed in May of 2018.
That month, the Supreme Court made the historic decision to remove PASPA. Doing so immediately gave every state in the country the ability to legalize sports betting. Within days of PASPA gone, several states including New Jersey and Delaware officially approved bills to legalize sports gambling.
This proved to be a great decision. Many credit the legalization of sports betting for turning Atlantic City back into a major gambling hub. Revenue began to increase rapidly here and more states quickly started to approve sports betting bills.
2020 is the year that legal sports betting in California needs to be allowed. Lawmakers have been in a dispute with Native American tribes on how to legalize this industry. This week, two senators proposed amendments to legalize both in-person and online sports betting.
Senator Bill Dodd commented on the economic impact the legalization of sports betting may have.
“The amount of money that can be raised in benefit of the state with online wagering is estimated to be up to $700 million a year,” Dodd said. “We’re looking to get those revenues for a COVID-type budget where we need to be looking out for every opportunity to increase our revenues at a time when we have to make so many cuts.”
Governor Newsom seems to see the potential in this industry, as well. In order to approve legal sports betting in California, though, this bill needs to make it on the state ballot by June 15th. Hope is that this happens.
Sports Leagues Are Beginning to Operate Again
For months, almost all US sports leagues were shut down. These leagues understood that by resuming operations, they put players at risk of being infected with Covid-19. It was unclear when any of these leagues would start to begin operating again.
UFC President Dana White continued to tell the media his promotion would be the first one to start running again. On May 9th, he achieved that goal. That day, the UFC held a major event in Jacksonville, Florida. It’s since held several more events.
More leagues are now starting to operate again. As a result, sports betting continues to grow more popular. That’s great news for many states desperate to earn revenue right now.
Many feel that legal sports betting in California is coming this year. Several senators in the state are pushing hard to make this happen. The main focus for lawmakers will now be on coming to an agreement with Native American tribes here.
It’s an interesting time for the sports world. No one really knows when leagues will resume their operations with fans in attendance. What’s clear is that people will continue betting on whatever sporting events are taking place.
Do you think California will legalize sports betting this year? Let us know in the comments section below!