The long wait for sports betting to be legalized in California continues. When it does finally take place, look out for gambling companies from the UK to begin operating in the state.
That’s been the case since 2018 when a U.S. Supreme Court judge ruling changed the US gambling industry. Now US states can decide for themselves whether they should legalize sports betting, particularly online.
The lure of all those dollars that can be received from gambling tax revenue has persuaded many states to go down the legalization route. Some take longer than others though and California is most certainly on that list.
Mainly the opposition to legalization has come from the state’s Native American tribes. Online betting would be something they can’t control and that’s not a situation they want to see.
All of this is very frustrating of course. It’s not just for those wanting to download apps and legally bet on the state’s great sporting teams. Politicians want to get their hands on the tax revenue and gambling companies want to begin opening sportsbooks in the state.
With so many people living in California, the legalization of sports betting would bring in billions of dollars. There have been attempts to produce a bill that the governor can sign into law but getting anything through the senate has proved impossible so far. More attempts will be made this year and all eyes will be on those efforts.
The UK has plenty of gambling companies and perfect online casino bonuses and recent years have seen them making inroads into the US gambling market. It’s an important task for them for a couple of reasons. It’s not just the desire to expand their businesses.
Regulation of the UK gambling industry is likely to become tighter in the future as the 2005 Gambling Act is reviewed. The need to expand into the US has therefore become more important.
Companies such as Entain, Flutter (owners of Betfair and Paddy Power), bet365 and 888sport have all begun operating online sportsbooks in the US. As each state decides to legalize sports betting, they aim to get a grab of the market.
That’s helped US companies too as they look for partners when launching in states. They lack the experience of running sportsbooks that the UK companies have. William Hill, one of the oldest bookmakers in the UK began to work with Caesars Entertainment. The American company loved working with them so much that they ended up acquiring William Hill last year.
Entain have a great deal to offer Californian gamblers eagerly awaiting legalization of sports betting. They own Ladbrokes and Coral and have already made a mark in the US. The company signed a $200 million deal with MGM Resorts four years ago. So popular have Entain become that MGM Resorts and DraftKings have been interested in purchasing them.
Paying huge licensing fees isn’t going to scare companies off. They know that there are massive amounts to be made in California. Any UK gambling company looking to further expand their business in the US won’t think twice about applying for a license. That’s just what is happening in Montreal at present as the Canadian gambling industry expands.
The odds are that when sportsbooks open in California, the retail casinos will need partners. A few phone calls to the UK are on their way if that is the case.
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