• About
  • Contact
  • Testimonials
  • Newsletter
  • More
    • Demographics & Advertising Rates
    • Terms & Conditions
Tuesday, November 28, 2023
No Result
View All Result
California Business Journal
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness
California Business Journal
july 22 dice pic

Will California follow Georgia’s Model and Relax Online Gambling Restrictions?

The economic argument for relaxing restrictions on web-based gambling in California is significant, and indeed it is this factor that has helped push through regulatory changes in other states so far.

by California Business Journal Editorial Staff
A A
Share on FacebookShare on Twitter

Attitudes to online gambling are shifting as the number of people playing casino games and placing wagers over the internet increases by the week, causing regulators to reconsider their stance on licensing operators to run sites domestically.

In a detailed breakdown on legalbettingsites.info, California sports betting sites are demonstrated to be illegal to operate within the state, even if residents can play on sites hosted elsewhere without fear of repercussions.

As a result of the current economic crisis caused by the ongoing pandemic, efforts to push through the legalization of online gambling are being made in several parts of the country. In particular, Georgia legislators are working on plans to make sports betting a legitimate option in the state.

The question, then, is whether California will follow suit and embrace a more liberal stance on digital gambling services, or remain staunch in its opposition to allowing this industry to develop within its borders. Here is a look at the likelihood of changes being enacted in the near future.

ADVERTISEMENT

Economic imperative

The economic argument for relaxing restrictions on web-based gambling in California is significant, and indeed it is this factor that has helped push through regulatory changes in other states so far.

Aside from the simple fact that sports betting sites will generate tax revenue on an ongoing basis once they are legalized, there is the promise of codifying consistent fees just for applying to receive a license, in addition to annual charges.

Under the model currently being considered in Georgia, for example, a $50,000 fee for attaining a license will be mandated, in addition to recurring yearly license costs of $90,000.

In addition to this, sports betting businesses will be taxed at 20 per cent if Georgia’s lawmakers are able to get House Bill 93 through the senate.

A study from Grand View Research estimates that globally the online gambling market will be valued at almost $60 billion and will continue to enjoy double digit revenue growth for at least half a decade to come. California could net millions or even billions to add to the public coffers and help to cover the expenses that are still being generated as a result of the response to COVID-19.

Social necessity

Lots of lessons are still being learned about the nature of the economy on both a state and a national level as a result of the pandemic, with businesses restructuring to adopt the Amazon model and the value of digital services over bricks and mortar equivalents being revealed.

While some businesses are focusing on perfecting their websites to appeal to customers and adopt a multichannel strategy, others are being forced to face up to the reality that normality will not return to their operations for some time. This means that even if sports betting is legalized in California in the short term, the conditions for opening physical locations will be less than ideal, making online gambling the obvious solution.

The impact of the pandemic on the retail and entertainment sectors has been marked, and the full extent of the damage done will take some time to quantify, yet by bringing sports betting sites into the economic fold, legislators will be welcoming a potentially lucrative and transformative industry to a state that will need all the help it can get.

Potential obstacles

It is worth noting that while the option to relax online gambling restrictions in California is certainly on the table, there are still a number of hurdles that need to be removed before this can become a reality.

On paper, it seems ultimately inevitable that California will eventually embrace online gambling of all kinds, although the issue is that the wheels of the legal machine turn very slowly and under normal circumstances it may be difficult to get anything done about this in a short timeframe. Of course current circumstances are far from normal and so there is growing hope that like Georgia and a handful of other states, there will be a swifter shift here to act as an economic stimulus.

At the moment it is entirely possible for Californian residents to place bets on sites that are operated out of state and licensed by the relevant authorities in the region where they are based. This does mean that the revenue which these sites generate is not taxed locally and so none of the benefits of this increasingly popular activity are felt in the state itself. In short, each day that passes brings California closer to relaxing online gambling rules, even if the exact time frame remains unclear.

(Image Source: Pixabay)

 

Tags: AmazonCaliforniaCalifornia sports bettingcloserCovid-19economyGamblinglicenseOnline Gambling Restrictions?regulatorysports bettingstudytaxWill California follow Georgia's Model and Relax Online Gambling Restrictions?
ADVERTISEMENT
California Business Journal Editorial Staff

California Business Journal Editorial Staff

Related Posts

us flag with money
Why Are More States Legalizing Gambling in the U.S.?
Online Casinos
4 Things to Consider When Choosing an Online Casino
Online Casinos
How to enhance your online gambling experience
roulette
Everything You Need to Know About Playing Online Roulette
online gambling2
Is Online Gambling Illegal in the U.S.?
california state flag
Where can California turn to boost its economy?
casino -- gambling luck
Why It Takes So Long To Get Your Online Bingo Winnings
ADVERTISEMENT
Facebook Twitter LinkedIn Instagram LinkedIn

CBJ Newsletter

Contact [email protected]

CBJ Rates and Demographics

1REALTOUR-SAN DIEGO-WEB DESIGN
Facebook Twitter LinkedIn LinkedIn Instagram Youtube
C B J   LOGO  SVG-01
  • About
  • Contact California Business Journal
  • Testimonials
  • Demographics & Advertising Rates
  • Terms & Conditions

Categories

  • Art & Culture
  • Business
  • California Hotel Listings
  • Daily Updates
  • Editor's Choice
  • Education
  • Featured
  • Finance
  • Food & Dining
  • Health & Fitness
  • Human Interest
  • Insurance
  • Law
  • Lawyers
  • Marketing
  • Medical
  • News
  • Newsletter
  • Opinion
  • People
  • Popular
  • Real Estate
  • Social Media
  • Technology
  • Uncategorized

CBJ Partner Firebrand Media

Laguna Beach Independent Newspaper
 Laguna Beach City Guide
 Newport Beach Independent Newspaper
Newport Beach Country Club Magazine
  Montage Magazine
 Omni Escapes Hotel Magazine
 Bespoke Concierge New York
 Evans Hotels
 Laguna Beach Magazine
 On The Menu Laguna Beach
 Newport Beach Magazine
Coastal Real Estate Guide (NB,LB, CDM)
Monarch Beach Resort Magazine
 Pacific Coast Magazine (SoCal)
Sea Island Life Magazine
Salamander Hotel & Resorts Magazine
 View our entire portfolio

 

Most Viewed

  • More Truth About Temu: Is Temu A Chinese Company?

    The Truth About Temu: Where Is It From?

    0 shares
    Share 0 Tweet 0
  • How to Get Free Stuff on Temu (The EASIEST Methods Explained)

    0 shares
    Share 0 Tweet 0
  • Lawsuit Basics: How Much Does It Cost to Sue Someone?

    0 shares
    Share 0 Tweet 0
  • Investigation: Can TriumphFX Take Your Money?

    1 shares
    Share 0 Tweet 0
  • What to Do When an Online Casino Refuses to Pay Out Your Winnings

    0 shares
    Share 0 Tweet 0
  • The Impact of Covid: Racing to Buy Second Citizenships

    3 shares
    Share 0 Tweet 0
  • 30 Best Temu Alternative Apps To Buy from Online

    2 shares
    Share 0 Tweet 0
  • NFL Paychecks: How Do NFL Players Get Paid?

    0 shares
    Share 0 Tweet 0
  • Temu’s New Shipping Policy Is A Smashing Hit For Shoppers All Over the Country

    0 shares
    Share 0 Tweet 0
  • Top 5 Flavors On Elf Bar BC5000 Review

    0 shares
    Share 0 Tweet 0

Latest Articles

Image Source: iStock

What Are Some Most Important Digital Marketing Channels?

Image link: https://unsplash.com/photos/white-and-grey-concrete-building-near-swimming-pool-under-clear-sky-during-daytime-2d4lAQAlbDA

Real Estate Investment Return: Where Potential Is Hidden

Image Source: Unsplash

A Deep Dive Into the Causes and Consequences of Fatal Motorcycle Accidents

Investing Simplified: A Guide for Women to Grow Wealth

What Is a DUI?

8 Best Practices For Transforming The Order-to-Cash Process

What Lies Ahead for Alibaba (BABA) Stocks?

Building Your Medical Practice Online: Essential Website Features for Patient Engagement

The Power of Promotional Products in Making Conferences Memorable

Copyright: TheRegisti on Unsplash I License: CC0 Public  Domain

How to Find the Best OnlyFans to Follow in 2024

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR

No Result
View All Result
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR