That’s one reason analysts, gaming operators and Nevada casino and tourism leaders have debated the state’s ability to match up with the potential competition.įor some analysts, the answer can be found in Interstate 15 traffic jams. Nevada sportsbooks produced a single-year record of $455.1 million in revenue based on $8.1 billion in wagers in 2021. California is home to multiple professional sports teams in all four of the major sports leagues, as well as several of the nation’s largest college athletic programs.Ĭhris Grove, CEO of American Affiliate, a technology and media company focused on the U.S sports betting and online gaming market, told the Los Angeles Times in November that California legal sports betting could produce north of $3 billion in annual revenue, depending on what voters ultimately approve and how the facilities are managed. Nearly 80 tribal casinos operate in California and produce, by recent estimates, a U.S.-leading $9 billion a year in annual gaming revenue. The two remaining petitions need to be filed with the secretary of state’s office by the end of April to make it on the 2022 ballot. The tribal mobile betting measure hasn’t yet achieved the 25 percent mark. The mobile betting initiative backed by sportsbook operators reached 25 percent of its required signatures in January. The retail sportsbook initiative backed by tribal casino operators qualified for the Nov. “The experience of Las Vegas cannot be matched, and so people will still come to Nevada and partake in sports betting,” he said. We are still kicking and seeing record revenue,” Bussmann said of Nevada’s record-shattering $13.4 billion in gaming revenue in 2021. The expansion of sports betting was going to kill us. After all, Nevada has seen gaming proliferate beyond its borders for years now.ī Global Managing Partner Brendan Bussmann called Nevada a “one foot in the grave state” whose demise was often predicted during different waves of nationwide gaming expansion. Nevada gaming companies are largely staying out of the fray - at least for now - and analysts are not sounding alarm bells yet. Sports betting proponents predict big dollar signs for the Golden State, but if history repeats itself, that may not spell doom and gloom for the Silver State’s gaming cash flow. According to the American Gaming Association, it is one of 11 states with either pre-filed legislation or a pending ballot question related to expanded sports betting.

California, with a population of nearly 40 million, is the largest of the 17 states still without legal sports betting.

Legal online sports betting california