The Best In Sports Betting And Casino Gaming: Spreadex – Voters in the nation’s most populous state have a chance to launch a massive new industry in California in November — and shake up other states.

Customers place personal bets during the launch of legal sports betting in Michigan at the MGM Grand Detroit casino in Detroit on March 11, 2020. | Paul Sancia/AP Photo

The Best In Sports Betting And Casino Gaming: Spreadex

The Best In Sports Betting And Casino Gaming: Spreadex

After the Supreme Court cleared the way in 2018, state after state legalized sports betting, but California did not — despite a strong state gambling market and strong interest from national industry players.

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That may change soon. Voters in the nation’s most populous state have a chance to launch a massive new industry in November — and shake up other states.

«California is the holy grail of US sports betting markets,» said Daniel Wallach, a Florida attorney who has advised various players in the booming sports betting states. «It’s going to be a half-billion-dollar battle for control of the world’s most lucrative betting market.»

Thirty-three states and Washington, D.C. have legalized sports betting, creating an industry that is expected to generate tens of billions of dollars in revenue once these markets are fully operational. The explosive growth comes two and a half decades after Congress gave Nevada an effective monopoly on sports betting in America.

If California becomes legal, it is likely that sports betting will become legal everywhere in the US. «A lot of people actually think the rest of the country will legalize if they do this,» said University of Oklahoma professor John Holden, who has testified as an expert witness as states consider gambling laws.

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California must first resolve its disputes — no easy task for a state mired in long-running gambling operations that stymied legalization efforts nearly two years ago.

Players placed their sports bets for the first time at Foxwoods Resort Casino in Mashantucket, Conn., on Thursday, September 30, 2021. Susan Hague/AP Photo

Casinos, horse racing, card rooms and platforms like FanDuel and Native American DraftKings are vying for control of a market that could bring in tens of billions of dollars a year, repeating a power struggle that has already taken place in states like Florida.

The Best In Sports Betting And Casino Gaming: Spreadex

The battle pits FanDuel and DraftKings, the platforms that dominated the new market, against established tribes who warn that their dominance is at risk. Rival interests have poured hundreds of millions of dollars into a campaign that could challenge spending records.

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Native American tribes had already passed a bill that would allow gambling on tribal land, when international gambling companies played their game, spending $100 million on an initiative that would allow them to control online betting. to do The measure is also expected to qualify for the November ballot, given the pace of gathering signatures and funding available to supporters. Companies include BetMGM, DraftKings, FanDuel, Bally’s Interactive and other big names. Increasing resistance has also been created in card rooms, which offer limited gambling options outside of tribal land.

Regulation of online betting has become the center of controversy. After the betting platforms presented their proposal online, a trio of tribal chairs warned their colleagues that they must respond individually or risk losing the biggest competition: the preferred platforms «accelerate the legalization of online gambling from non-tribal interests the existence of Indian gaming as we know it,» they wrote. Since then, the tribes have begun collecting signatures for another Internet-focused measure, although they started too late to succeed.

A customer places a bet in one of the new betting shops at the Casino at Foxwoods Resort in Mashantucket, Conn. on September 30, 2021. | Susan Hague/AP Photo

It’s not hard to see why online betting is a concern: For every $10 wagered on sports, $8 to $9 is placed online, said Becca Giden, director of policy at research firm Eilers & Krejcik Gaming LLC. People are already used to placing their bets on the web instead of going to a bookmaker and risking their knees.

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A competing proposal would require international gaming companies to restrict online platforms from working with tribes.

Gaming companies have embraced the measure as an anti-homelessness initiative, as a portion of the proceeds will go to local housing efforts — a sweetener that has brought on board mayors of big cities struggling to provide for people during the pandemic. This could also play well with California voters, who typically rank housing and homelessness among their top concerns.

«Ours is the only initiative that raises hundreds of millions of dollars annually,» said campaign spokesman Nathan Click. «Our measure provides several benefits to California’s tribal nations.»

The Best In Sports Betting And Casino Gaming: Spreadex

Clan leaders don’t buy it. Eight months before the general election, gaming companies launched a $100 million counterattack to block the competing initiative, calling it a power grab that violates the spirit of California’s 1998 law that allowed tribal gambling and gave the tribe to gamblers. has become a powerful political force. The campaign warns that the proposal by «out-of-state companies» would break the «promise» between voters and tribes.

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«The main struggle for us is to keep out-of-state companies from coming in. It’s the best thing for all the tribes here in California,» Jesus Tarango, chairman of the Wilton Rancheria tribe, said in an interview. . If the betting platforms prevail, the tribes «might get a piece of it, but it won’t be the same piece as if it was managed by us.»

Sports betting has grown since the Supreme Court in 2018 struck down a federal law that restricted such gambling in Nevada. Former New Jersey Gov. Chris Christie, a Republican who moved to legalize sports betting at Atlantic City’s horse tracks and casinos, fought for years in court to convince judges that the 1992 law violated state sovereignty.

MGM National Harbor, Governor Larry Hogan and Joe Theisman launch Maryland sports betting with BETMGM at MGM National Harbor on December 09, 2021 in Oxon Hill, Maryland. | Shannon Finney/Getty Images for MGM National Harbor

The decision appears to legalize sports betting overnight – a similar type of betting and offshore gambling site that has become a new stream of government revenue and a mainstay of US sports. The NFL, NBA, MLB and other professional leagues that sued Christie over New Jersey’s legalization efforts are now embracing the industry and even partnering with gaming companies.

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Giden said the resulting market has seen an «absolutely insane level of expansion» thanks to its «user-friendly reputation» and the ability to pay for state budgets. Giden predicted that nearly every state will legalize the practice in the coming years.

«It’s more like a ‘when’ than an ‘if’ for most states,» Giden said. “Many people don’t see sports betting in the same way that they see slots and poker and roulette as gambling – this, along with the increased revenue opportunities, has allowed sports betting to expand much, much faster than other betting options. «

Competition from neighboring states has prompted politicians to take action, Gidden said, because elected officials fear losing out on wind benefits. The returns could be huge: After New York allowed sports betting to go online this year, it broke New Jersey’s record of nearly $2 billion in wagers in one month.

The Best In Sports Betting And Casino Gaming: Spreadex

California may or may not match this. A legislative analysis said residents illegally bet about $18.7 billion in 2016, according to estimates from the American Gaming Association. The prospect of such profits has led California players to monitor the emerging market. Tribal interests blocked a legislative proposal backed by professional sports leagues and non-tribal gaming interests as state lawmakers tried to strike a deal in 2020.

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«The various factions have never been able to come together on anything. There’s such mistrust between them,» said state Sen. Bill Dodd (D-Napa), who introduced the failed legislation to allow betting. Considering the online betting portals, Dodd added, «it’s probably going to be more difficult for everyone in some ways, but at least they have the money to build a legitimate campaign and their competitors have to recognize that. Maybe it will bring some others to the table.» .»

New Hampshire Governor Chris Sununu shows his receipt after placing the first legal sports bets on his cellphone in Manchester, New York, on December 30, 2019. Charles Krupa/AP Photo

Platforms like DraftKings and FanDuel have been key players in shaping the national landscape. After the spread of daily fantasy sports, which essentially served as a precursor to sports betting, companies partnered with professional sports leagues and casinos to push for states where legalization is on the table. Each company contributed $16.7 million to the initiative’s campaign, a total of $100 million, a significant but unprecedented outlay for a California election campaign.

«They’re pretty outstanding,» Holden said. “They spend a ton of money on lobbying in almost every state, and they’re also major market players: Even in states where we have all-tribal activity, a lot of these tribes join.

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