With all attempts made in 2019 unsuccessful, a new year is giving hope to advocates of legalized sports betting in California. Due to the potential gigantic revenues sports betting would bring to the ‘Golden State’, everyone is weighing on. The Senior Vice President of Major League Baseball (MLB), Bryan Seely voiced his opinion this week.
Seely said, “It’s important to Major League, that California enact a legal regulated sports betting framework that protects consumers. That it provides tax revenues to the state and protects the integrity of the games.” Some of those groups and individuals that oppose legalized sports betting in California argue that the integrity of games is at stake. Jay Kornegay, the Vice President of Westgate of Las Vegas Casino and Resort, doesn’t believe that legalizing sports betting will compromise the integrity of any games. Kornegay said ‘that at the casino they have been taking sports bets for universities since 1999. He also added ‘in over 20 years of taking bets on University games, there have been zero issues.
If Sports Betting Launches In California They Could See $3 Billion A Year In Revenues
It’s estimated that 39% of the U.S. population already are partaking in sports betting. It’s believed that the number encompasses legal sports betting and the black market. According to new reporting by KCRA in Sacramento, the state could see close to $3 billion in sports betting revenue. According to the report, experts in the gaming industry say that of that revenue, more than 85% of that revenue would come from bets made online.
Fourteen states now have sports betting up and running. Nine other states including California will be trying to get bills past their state legislators and get sports betting passed. Oregon is one of the states that have legalized sports betting. Matt Shelby an official with the Oregon Lottery Commission, said most of the money generated therefrom sports betting goes back to the players.
Oregon Says Long-Range Goals For-Profits Are $30 Million In The Next Three Years
Shelby went on to explain, “So for us, we look at it as an incremental revenue source over time. So we’re talking three-year projections of $30 million.” Oregon, however, is one of the least populated states with a population of just 4 million people. California is facing a lot of opposition from social service agencies. One, in particular, is the ‘Office Of Problem Gambling,’ who claim sports betting has a real downside. Cyndi Maivia of Office of Problem Gambling, said ‘gambling can be an addiction.’ She went on to say that, ‘being able to place bets online, on a cell phone, you can just expect to create addiction problems’. Maivia said the effects of gambling addiction can devastate families, and cause homes to be lost, jobs to be lost, divorce and losing children. It can destroy people’s lives she said.’