Business

Why Legal Sports Betting In California Is Inevitable?

Legal sports betting can be a reality in the state of California sooner than you thought. To start with, sports betting enthusiasts are a tad frustrated at the idea of having to take off to nearby states such as Nevada to place wagers on their favorite sporting events. This is why big names like DraftKings, which are present in the state already because of their fantasy sports offering, are likely to apply for betting licenses. The tribal groups here are not keen on un-partnered retail betting or online sports betting. So, California sports betting sites will probably have to tie up with casinos. The big betting companies will not mind doing this because they have ample funds to pay licensing fees. They may also be open to splitting profits with the tribes. Operators like FanDuel, BetMGM, Caesar’s, FOX Bet, William Hill, and Unibet are likely to apply for licensing in California once sports’ betting is legalized in the state. The state has always been supportive of gaming endeavors; there are card rooms to cater to poker players and tribal casinos to cater to the retail casino players. Besides, you will come across state lotteries and racetracks for horseracing enthusiasts. This means that bet lovers can actually take part in many regulated and licensed places in California in person. Another reason why sports betting is likely to be legalized in the state is because there have been attempts in this regard in the past too. In 2020, California state legislature initiated a bill to this effect. If it had been approved through a referendum, it would have permitted both online and retail sports betting vis-à-vis partnerships between casinos and legitimate operators. The Covid outbreak delayed this and referendum is expected this November.