Last updated on November 9th, 2023 at 02:37 pm
In the latest gambling news headlines, we take a look at plans for legalizing sports betting in California. In the past, the matter of allowing sports betting in California was put to vote, but failed to get enough support to pass. There are a lot of factors, like over-saturating the market with ads, to the detriment of the industry. There is also the lack of support from the tribes, which looks to be the same problem that legislators will have this year.
When you learn how to be a bookie, you will discover that the platform for hosting your sportsbook is actually quite easy to source. But the regulations that sportsbooks are subject to, takes a lot more time to finalize. After all, these regulations can make, or break your success at sports betting. Some states, for instance, prohibit online wagering. Other states have limits on what residents can bet on, and so on.
Proposals for Sports Betting in California Likely to Fail Again
In California, there are two major proposals, Prop 26, backed by tribes, and Prop 27, backed by operators. Both parties involved did not cooperate early on, and both failed to get the support they needed to pass in the ballots last year. And given the massive backlash they had with their campaigns; it seems that Californians are not too keen to talk about the matter of sports betting right now. The tribes are perfectly fine to wait and bide their time. Other parties are not.
If any of the proposals pass, sports betting could be available in the state by 2025. Licenses will come from the tribes, and operators who wish to partner up with tribes will have to use the tribes’ names, instead of their own brands. Operators can then collect up to 40% of net revenue.
The proposal also calls for in-person registration to ensure foot traffic in retail sportsbooks. While this is good for brick-and-mortar sports betting, its is not really that lucrative. States that implemented a similar measure suffered as bettors had an additional step to take before they could bet on sports. Whereas, bookies who use bookie pay per head software can simply let players register in their sportsbooks online. The very convenience of online sports betting will be hindered by this requirement. But since the chances of sports betting getting the vote this election period seems low, there is ample time to prepare for more refined policies on sports betting in California.
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