May 10, 2022 - Sports

California takes step toward sports betting legalization

Sports betting laws, by state
Reproduced from American Gaming Association; Cartogram: Axios Visuals

California voters recently gathered enough signatures to send a mobile sports betting initiative to their state's November ballot.

Why it matters: If it passes, the amount of money wagered (handle) on sports in California is going to be astronomical.

  • When New York legalized mobile betting in January, it broke the single-month record for handle in just three weeks. New York's population is 19 million. California's: 39 million.

State(s) of play: California isn't the only state making progress towards legalization.

  • Maine Gov. Janet Mills signed a sports betting bill into law last week, though the state's first legal sports bets aren't likely to be placed before mid-2023 at the earliest.
  • 30 states plus Washington, D.C., already have active, legal sports betting.
Go deeper