There are ongoing debates as to how the western states, mainly California, will act now that the sports wagering decision has been released by the Supreme Court. This decision is significant because of the potential revenue that could be generated from regulation to an industry and has been hiding in the black market shadows.
California lawmakers are very familiar to the fact that California citizens are playing on offshore websites that are unregulated, non-taxable, and unprotected. The sports betting industry is expected to bring in tens of millions of dollars in New Jersey, the state that managed to bring victory to their sports gambling case in the Supreme Court. It is hard to imagine that California won’t take action because of the massive potential to increasing taxable revenue.
Lawmakers will be squeezed for time if they attempt to get it on the voter ballot in 2018. It is widely expected that if sports betting gets onto the California ballot that it would likely pass with ease. Citizens have no reason to vote against this particular subject.
In the months ahead, daily-fantasy sports sites will be expressing their beliefs that states should pass legislation to allow and regulate online sports betting. The daily-fantasy sports websites are perfectly lined up to sweep in and take full advantage of this Supreme Court decision. The leader of DraftKings has already announced his plans to take over the sports wagering industry in the United States by hiring a professional sports book manager.
The only thing that is holding California back from allowing sports betting today is the fact that voters have to authorize a minor change to the state constitution. Only time will tell whether sports betting will follow the similar prospects of online poker and completely stall out in legislation, or whether sports wagering will speed into existence and start bringing in massive amounts of cash flow.