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LOS ANGELES — The most expensive ballot proposition gamble in U.S. history went bust Tuesday as California voters overwhelmingly rejected sports betting, shooting down initiatives by Native American tribes and the gaming industry.
The two groups raised nearly $600 million in competing efforts to expand gambling and try to capture a piece of a potential billion dollar market in the nation’s most populous state. But voters did not want a piece of that action.
Supporters and opponents of the dueling measures flooded voters with a blast of advertisements on propositions that would have legalized sports gambling by allowing it at tribal casinos and horse tracks or through mobile and online wagering.
The money raised and spent more than doubled the record amount spent in 2020 by Uber, Lyft and other app-based ride-hailing and delivery services to prevent drivers from becoming employees eligible for benefits and job protection.
Still, preelection polls showed both ballot measures faced an uphill fight to win a majority. More than 30 other states allow sports betting, but gambling in California is currently limited to Native American casinos, horse tracks, card rooms and the state lottery.
Proponents of the two initiatives proposed different ways to offer sports gambling and each touted other benefits they said would come to the state if their measure was approved.
Proposition 26 would allow casinos and the state’s four horse tracks to offer sports betting in person. The initiative bankrolled by a coalition of tribes would also allow roulette and dice games at casinos. A 10% tax would help pay for enforcement of gambling laws and programs to help gambling addicts.
Proposition 27 would would allow online and mobile sports betting for adults. Large gaming companies would have to partner with a tribe involved in gambling or tribes could enter the market on their own. That measure was backed by DraftKings, BetMGM, FanDuel — the latter is the official odds provider for The…
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Source : espn
