Interest money

Lots of money is being spent on the two California sports betting propositions | Newstalk Florida

California would be a sports betting goldmine for someone.

Hundreds of millions of political advertising dollars are being spent in California during this year’s election cycle, but it’s not for a gubernatorial, Senate or House race. The money is going into advertising to try to get Californians to endorse the legalization of sports betting. There are two proposals on the ballot. Proposition 26 would allow people to bet on sporting events in person at retail outlets, tribal-operated casinos and the state’s four licensed racetracks. Proposition 27 is backed by DraftKings, BetMGM, FanDuel and other national sports betting operators. The proposal would change state law to allow adult online sports betting on the Internet and on phones or other mobile devices. It’s a gold rush for someone. Sports gambling is now legal in 31 states and the District of Columbia, according to the American Gaming Association.

The California Republican Party opposes both proposals. State Democrats oppose Proposition 27. Major League Baseball supports Proposition 27. Why would Major League Baseball weigh in on a California gambling bill? It’s simple, BetMGM is MLB’s gaming partner and provides data usage in sports betting, promotion on MLB-owned media platforms, national and international activations at MLB events. MLB has an interest in making sure the right proposition wins, because that could mean more money pouring into the baseball industry. But it’s unclear whether Californians actually want legalized sports betting. The Public Policy Institute of California found that the Prop 27 poll does not support MLB, as 54% oppose the measure while only 34% favor it. California has been an obstacle to gambling in the four years since the United States Supreme Court authorized the states and the District of Columbia to implement a form of sports gambling. At one time, sports leagues were against sports betting.

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