California Bill for Sports Betting at Casinos
Within hours of the recent PASPA vote, California Assemblymembers Adam Gray and Jerryonies Cardin released their proposed sports betting amendments. It’s projected that sports betting in California would be worth nearly $2 billion a year (including online gambling income) in California – making it the largest state lottery gambling industry in the world. The news was praised by many in the gambling community, but opponents were quick to point out the negative effects. These included the fact that a majority of California residents live in cities with populations below the state average, which would prevent the growth of online gambling.
In addition, the new California law bans same-day wagers, which would affect all online gambling, as well as brick and mortar casinos. Proponents of the amendment argued that this would prevent corruption and favoritism among sports book operators. Opponents argue that such laws do not accomplish these goals, as it is the state’s responsibility to police its licensed casinos and protect the consumer.
The second amendment proposes to allow sports betting on college basketball and football. This would open up the sports betting industry to a large portion of the population who live outside California, which would drive up prices for tickets and gambling transactions. The proposal also seeks to legalize online poker in California, something that has long been banned in the Golden State. Proponents say that the ban on same-day wagers and the complete ban on gaming machines at the state capitol building (where a portion of the money from the state legislature’s budget goes) is an attempt to protect the state’s already failing economy.
Both propositions are up for approval at the voters in November, and the results aren’t in yet. One interesting thing about the proposed amendment is that it attempts to regulate all forms of sports betting. All wagers would have to be done through a licensed sports betting site. The sites would also have to provide public access to account information, which they say will help in combating gaming addiction. The amount of money a sports bettor can wage through sports betting accounts is limited to the amount of funds he or she has put into his or her account.
The second amendment would legalize sports betting from Internet sites that operate within the state’s legal sports betting market. The law would also impose a five percent tax on all wagers taken out by customers from the state capitol. The tax would only apply to bets placed within California. Opponents of the measure argue that the tax would make it too expensive for smaller bookmakers to stay in business and therefore eliminate the legal sports betting market.
The first proposition seeks to legalize sports betting without requiring state intervention. Proponents of the measure say there’s no way online sportsbooks can function without regulating themselves. Online sportsbooks are already subject to terms and conditions imposed by state regulatory agencies. They cannot accept bets from clients from states where they do not operate their businesses. They also are not allowed to allow bets from clients who do not reside in those states.
The second proposition would allow online gambling in California only for resident Native Americans who want to gamble online. Native Americans currently cannot register as sports bettors in most states because they do not meet the legal minimum age to stand accused of gambling. The proposal does not affect Native Americans living outside of California. However, if they wish to indulge in online gambling, they would have to register as non-residents of California and pay taxes on their wagers.
Although the Sports Betting clauses is not expected to pass the 2021 ballot, it may lay a foundation for future debates between home state legislators. The fact that the California State Legislature has already taken action shows that it might become more receptive to allowing sports betting at casinos once the topic is considered fully legitimate. California is already one of the leading nations when it comes to gaming regulation. If a strong pro-gambling movement can be developed within the United States, other state legislatures may follow suit and enact similar laws.