California has a pending bill, SCA 6, that plans to allow voters to decide if they want sports betting to be legalized in the state. The bill is one of many that the Senate Appropriations Committee will be discussing this week. However, the bill’s author. Sen. Bill Dodd, plans to pull his bill. Which means that we might not see a sportsbook industry in California. At least, not in the next couple of years.
The reasons for pulling out are a bit multifaceted, as explained by the senator. But this decision means that the state will not have any sports betting bill for this legislative session, effectively killing any chance of seeing sports betting next year.
Sportsbook Industry in California
The bill, led by Senator Dodd and Assemblyman Adam Gray, has been opposed by California tribes since its creation. This is one of the reasons that the senator will be pulling the bill. There are other considerations as well, primarily the covid pandemic and its effect on the elections this November.
To be a successful bookie, one must know the best ways to operate a sportsbook. Most of the best ones are already online, as online sports betting is growing in popularity. Dodd himself has submitted amendments to the bill that relate to online wagering. Amendments propose a transition to allow mobile and online sports betting.
Sports Betting Considerations
There are also other amendments, such as stronger rules in card rooms, funds for non-gaming tribes in the state, and other issues raised by fellow legislators. For the bill to pass, it needs 2/3 approval by June 25, so it can move on to the ballot.
Given how easy it is to learn how to be a bookie from home, anyone can create their own sportsbook and start earning. States are trying to capitalize on sports betting revenues – as they can generate income from taxes as well as licensing fees for future operators. This is especially true for California, as they currently face a $4 billion budget deficit because of the pandemic. Initial projections show a $28 million revenue in the first 6 months of a sports betting market in the state, with an annual $500 million revenue.
