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sports betting market in California

The sports betting market is growing steady in the USA and more and more states are legalizing it. Still, there are a number of states, who have yet to choose to legalize sports betting. In some states bills have been passed and legalization will happen sometime this year. In other states bills have been introduced, but have yet to be passed. It’s an interesting development to follow, as the popularity of both online and in person sports betting is in no way going down. In California, a bill has been introduced but did not pass when the opportunity stood last. If you are interested in the sports betting industry and want to know a bit more about how the future of it could look like in a state like California, then keep reading. The sports betting market is on the rise and it’s interesting to see where California fits into it.

How does it work in California today?

What many Californians do is to just take the short drive, or even shorter flight, to Nevada, where sports betting and gambling in general is legal.

What is the market like today in California? How can residents in California legally make bets on sports and other forms of gambling? The only legal possibilities involving sports betting at the moment is to bet on horse-racing, which is also widely popular. It is a long tradition dating back to 1933 and is set in the culture. Further, you can actually visit Native American casinos where you can do all the things you do at normal casinos. To get a bigger overview you can check What many Californians do is to just take the short drive, or even shorter flight, to Nevada, where sports betting and gambling in general is legal. Legalizing sports betting in California would likely mean that all the people who would normally go to Nevada to gamble, could just stay in California. Maybe even in their own home, to gamble online. A great deal for California, not such a great deal for Nevada, who would surely lose some regular customers to the market in California. 

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What could the market in California look like? 

California is one of the most active states when it comes to professional sports teams and their fans. Therefore the state is also predicted to be a huge player in the industry of sports betting and gambling in general. There is lots of money to be made for the state if they decide to legalize sports betting. The predictions for the future are also, that the state of California probably will have legalized sports betting in a few years. The people of California want the freedom to be able to bet on sports in a secure way and as more and more states decide to legalize it, the pressure builds for California to follow them. According to an article on California is actually the state in the USA who will have the biggest profit if sports betting would be legalized. Projections made after sportsbooks from states where betting is legal shows that California could get a total revenue of $1,5 billion and $195 million more from imposed taxes. It seems that there are more than enough reasons to legalize sports betting in California at the moment. 

Sports betting all over the world

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The progression of the sports betting market in the USA does not stand alone. All over the world especially online sports betting and gambling in general is widely popular. In fact it is entirely legal in many countries with laws that are not as strict as in the USA. It does look like most of the states in the USA will soon be onboard as well, so most americans can have a chance at betting on sports in their own state instead of traveling to others to do so.