In the American state of California and parties advocating for and against a pair of local ballot initiatives that are looking to formally legalize retail and online sportsbetting have reportedly heretofore spent an aggregate of over $400 million.
According to a report from the Associated Press news service, this figure represents the most ever spent on a ballot initiative in the United States and could eventually grow to top $600 million as the decisive November 8 voting date draws ever nearer. The source detailed that this tally is also almost double the nearly $225 million previous record that was expended in the same state only two years ago as part of a successful campaign to obtain special employment rules for gig-based companies.
Potential progression:
California is home to over 39 million people but has reportedly been slow to take advantage of the sportsbetting revolution sweeping the United States following the 2018 revocation of the previous federal prohibition contained within the Professional and Amateur Sports Protection Act (PASPA). As such and voters will purportedly soon be asked to weigh in on Proposition 26, which seeks to legalize retail sportsbooks for tribal casinos and the jurisdiction’s four state-licensed horseracing tracks, as well as its online-facing Proposition 27 counterpart.
Retail reticence:
The Associated Press reported that a second anti-Proposition 27 committee containing several tribal casino operators such as the San Manuel Band of Mission Indians, which runs the 432-room Yaamava’ Resort and Casino at San Manuel development near the Los Angeles suburb of San Bernardino, has already pulled in about $91 million. Its antagonism towards the online sportsbetting measure has purportedly been helpfully echoed by the state’s Democratic and Republican political parties although this former organization is remaining neutral on Proposition 26.
Big backers:
Proposition 27 is reportedly being conversely supported for an unknown amount of cash by some of the country’s largest online sportsbetting firms including DraftKings Incorporated, FanDuel Group and the BetMGM enterprise of MGM Resorts International. If passed, this measure would purportedly allow casino-operating tribes to partner with a licensed provider so as to offer remote sports wagering services with any resultant tax revenues going to cover regulatory costs and support a statewide network of homeless programs.