On Friday, Major League Baseball announced its support for an initiative to approve online sports betting in California. It became the first major sports league to participate in a high-stakes battle between the bookmaker giants and the state’s powerful tribal gaming operators.
Two major sports betting initiatives are included in the November ballot. Proposition 26 limits direct betting only at the tribal casino and his four racetracks. Proposition 27 ALLOWS ONLINE SPORTS BETTING.
MLB supports Proposition 27, the California Solutions Act for Homelessness and Mental Health. It is backed by a coalition of sportsbook operators such as DraftKings and FanDuel. A portion of the proceeds from Proposition 27 will help fight California’s homeless crisis.
DraftKings and FanDuel are official betting partners of MLB. California-based MLB, which has five franchises, has been advocating for the legalization of sports betting since 2018 when the U.S. Supreme Court overturned his Professional and Amateur Sports Protection Act of 1992.
“As legalized sports betting continues to expand nationwide, Major League Baseball will continue to protect the integrity of its games and make them safer for fans who want to bet on those games,” MLB said in a statement released Friday. “Proposition 27 is the only bill on California’s upcoming ballot to authorize and regulate online sports betting and will help MLB deliver on those commitments.” Includes strong integrity clauses designed to
“This measure would, for example, (1) require sportsbook operators to notify leagues of questionable gambling activity, and (2) allow leagues to propose restrictions on gambling markets that are particularly susceptible to manipulation. and (3) promote other forms of integrity. Cooperation between states, leagues and operators. I believe that
Proposition 26, the California Sports Betting Regulations and Illegal Gambling Enforcement Act, is backed by a coalition of tribes led by Pechanga.
“A large and growing coalition of Indian tribes, social justice advocates, teachers, parents, homelessness and mental health advocates, business, public safety and labor leaders all strongly oppose Prop. 27. Yes,” the campaign told ESPN in a statement. “This measure legalizes the massive expansion of online gambling, turning all mobile phones, laptops, game consoles and tablets into gambling devices. There’s no surefire way to make it written that the state gambling companies that fund Prop. 27 will take 90% of their profits out of state and very little will remain in California.VOTES ARE 11 I am confident that May will reject this deceptive and dangerous measure.
Chris Gove, a sports betting investor and partner at consulting firm Eilers & Krejcik Gaming, estimates that California’s mature online sports betting market could generate as much as $3 billion in annual revenue. . By comparison, trade publication VIXIO Gambling Compliance estimates that retail-only sports betting will generate him $356 million in gross annual revenue by his fifth year.