Observers are calling it the Super Bowl of California politics. As the November election nears, casino tribes and iGaming companies are trying their best to get California sports betting votes. Also, both parties are spending a lot of money in the hopes that they have the chance to earn it back through the state’s sports betting market.
The two parties are promoting separate initiatives included in the November 8 ballot. Although the governor’s re-election has already been decided, sports betting is becoming the hottest political topic in the state.
Stakeholders spent around $370 million on their campaigns. According to 9DollarPerHead.com sources, it has become the most expensive ballot-initiative fight in state history. Also, voters should expect more ads in the next couple of weeks.
Legal sports wagering has been sweeping the US. Also, California is one of the biggest untapped markets. The online betting industry, driven by FanDuel and DraftKings, has been tingling to get into California for quite a long time. It is trying to attract voters to support Proposition 27. According to sportsbook software experts, Prop 27 would legitimize mobile and online sports betting.
While the drive is about sports wagering, the Yes on 27 campaign doesn’t focus on betting. Instead, the campaign states Proposition 27 would help tribes that are not profiting from betting. Furthermore, the Proposition 27 campaign promises to solve California’s homeless problem through new tax revenues.
On the other hand, tribes support Proposition 26, which would give them a monopoly over sports betting. Also, Prop 26 would legalize dice games and roulette at tribal casinos.
Once voters approve any of the two propositions in November, it would take months before people can place popular sportsbook wagers.