So far, this is just a hypothesis, but yes, sports betting can become legal in California and the state might benefit greatly because of it. Even if it’s not confirmed, experts in the field say if sports betting is legalized, then California could become the most significant betting center in the US. Do you want to understand how this process is going and why maybe betting is legal? Follow today’s post, and we will explain everything.
Online betting is currently illegal in California. But in 2020, some California groups organized a process to obtain documentation that would legalize gambling in the state. The document said that betting could be legalized in person in 69 casinos and four-horse tracks in California, a large number that would substantially impact the world of betting and the state itself. The process was running until the beginning of the COVID-19 pandemic, and since then, it has been stopped, but in March 2021, the institutions returned with the contracts, and they can be signed in 2022.
The organizers of this document obtained 2.1 million signatures across the state and will find out by next year if the signatures are valid. According to institutions, the number of valid subscriptions required is 1.5 million.
Even with the signatures, there is a series of political struggles for these signatures to be valid and for sports betting to be legalized in California. Currently, the state is undergoing an election in November; if the state governor changes, bettors may or may not face new challenges.
If online sports betting becomes legal, we cannot answer. But if that was the case, it would probably be the biggest most established betting sites to be regulated and legal first. You can find these listed on Online Betting Guide, a community site for tipsters. And if it doesn’t get legalized in 2022, Nevada is not too far for those that want to gamble.
The sports betting industry took a brutal hit when the pandemic began to gain unimaginable proportions from March 2020. During this period, bookmakers worldwide turned on the warning signal, especially when sporting events such as the Olympic Games, Euro Cup, March Madness, and Copa America were suddenly canceled to slow the spread of the virus.
Even as sports began to return, empty stadiums and social distance measures meant that a new moment was to come. We are still living in an atmosphere that differs from what we know. Still, it is already possible to say that the sports betting industry managed to recover and expand its business throughout the pandemic.
Despite the uncertainty that COVID-19 initially placed on the live sports and sportsbook market, the signs of hope for the industry are solid and sure. For example, table tennis has emerged as an important sports market and continues to be a favorite with punters today. This was something unimaginable to happen before March 2020.
More broadly, the online casino has shown significant strength as a complementary product offering amid the crisis in sports activities, as consumers seek new forms of entertainment. This was predictable, but the consumer engagement and cross-selling metrics from sportsbooks to casinos were revealing.
The year 2020 had its primary key a kind of recovery for sports betting, with the second half of the year surpassing in all metrics and setting records. Sports gamblers, who typically represent about a fifth of the regulated US market, have turned to online platforms as they struggled with the cancellation of sporting events and the closure of real casinos.
With the closure of many land-based casinos, operators moved to digital, accelerating a process that helped to decompress a pent-up demand in several markets, particularly in the US, from people who wanted to gamble online but couldn’t find ways to do so.
Despite the wear and tear that the year 2020 represented for the sports betting industry, there are real reasons for optimism. Gaming products, business strategies, balance sheets, and legalization push are more robust due to the pandemic. If the sports betting and online gaming industry can thrive in the worst of times, what about the best? The future of the sector looks promising.
With such a digital world, we increasingly see the importance of the hybrid. Hybrid education, work, and even entertainment, as is the case in the betting world. To stay up to date in the market, companies worldwide are offering their games from the comfort of several homes, and several countries have legalized online gambling.