With each state having the authority to legalize sports betting, where does that leave California? Read to find out.
Future of Sports Betting in California
California is entering a new era of betting and gambling in the form of sports betting. Contributors are coming together and have put a whopping one hundred million dollars into what may be a revolutionary way to fund homelessness and mental health efforts in the state, all just by using one of the best online sports betting apps. Should it get through all the necessary red tape that the government might throw at it, this initiative will lead to increased support for homelessness and mental health efforts all over California with a steady stream of additional revenue.
Politico reports:
Major gambling players intend to ante up $100 million for an online sports betting initiative that would fund homelessness and mental health efforts, adding a new wrinkle to the 2022 battle over California’s lucrative gaming future.Proponents told POLITICO they will file the “California Solutions to Homelessness and Mental Health Support Act” today with the state attorney general’s office. Top backers include DraftKings, FanDuel and BetMGM, and they will establish a campaign committee today, according to campaign manager Dana Williamson, a veteran political strategist who advised former Gov. Jerry Brown.
From Politico August 31 2021.
The importance of helping these non-profit social assistance organizations
For years, the only way these institutes would thrive was through donations. Although, donations can only keep such vital societies afloat during seasons of economic prosperity. What happens when the economy tanks? Risking the security of these individuals is not an option, which means that other sources of funding can more reliably support these important social causes.
What does the law say?
In recent times, a new ruling has come into place in the land of the free, where each state can choose if they wish to legalize the act of betting on the outcome of sports.
Twenty-one states have already agreed to legalize online sports betting, including the District of Columbia. As it would have seemed, online sports betting was sure to be given the green flag, as it is a multi-billion-dollar industry. That is until New Jersey struck down the idea. This left many people wondering, will California join New Jersey?
California as a leader
The California ballot initiative would be the nation’s first to dedicate a permanent revenue stream to homelessness and mental health programs. This creates a way to help the people who need it, and make sure that proactive measures are being taken to support vulnerable members of society, while creating jobs at the same time.
This online initiative has the support of many influential people, one of these being Dana Williamson, a veteran political strategist known for advising former Gov. Jerry Brown. It claims that by providing individuals with dependable, safe places to gamble online regularly, hundreds of millions of dollars will be raised each year for the California Solutions to Homelessness and Mental Health Support Act. This new act could revolutionize how funding is raised for mental health, assisting countless people.
Will this work?
According to Forbes, people’s desire to change their fate will now cause one billion dollars in revenue generated by the gambling industry to increase by 600% by 2023. Hopefully, this increase translates to the funds allocated to mental health and homeless efforts.
Imagine what kinds of facilities and programs could be established with these kinds of resources?
Of course, a successful bid for sports betting in California will also require the means to regulate the industry, to make sure that there is no illegal activity or corruption in the market, and that all sportsbooks follow the necessary protocols to ensure that placing wagers is safe.
Apart from the fact that players will be contributing to a good cause, consistent education around responsible gambling will be key.
What’s in it for the players?
Many apps allow players to enjoy gambling while contributing to a worthwhile cause. In other states, like Colorado, for example, revenue from gambling will go towards funding certain environmental projects, namely those focused on developing water infrastructure.
A portion of California’s proposed sports betting industry’s revenue will be used to help tribal communities. As things currently stand, tribal communities will likely receive 15% of total revenue, while mental health and homelessness will receive the remaining 85%.
Is this political?
Native American tribes have already contributed approximately $12 million to support an additional bid for sports betting. Simultaneously, cardrooms have paid roughly $450,000 to try to pass a rival proportion, giving them a piece of the new lucrative market.
In an attempt to get the apps through all the remaining regulations and approvals, Williamson, who served as Brown’s cabinet secretary, has put together a group of California political players, including Bearstar Strategies, Newsom’s political consulting team, Kamala Harris, U.S. Sen. Alex Padilla, and San Francisco Mayor London Breed.
Final thoughts
Currently, there are three different proposals headed to the ballot. Hopefully, the diversity between the candidates could sort out any underlying political issues that need to be sorted out by next summer in the state Capital.
Could these apps be the future of sports betting in California? Only time will tell.