California Sports Betting Estimated Money is Opening Plenty of Eyes

As each day passes by, people continue to wonder what the future has in store for California sports betting. A lot of people were disheartened when two propositions were on the last November ballot, but neither passed. Now, it’s back to the drawing board, but new bills are expected to be in the works in the near future. Not only that, but the California sports betting estimated money is opening plenty of eyes out there.

According to a recent study performed in the state, it was revealed that California sports betting could end up being a $30 billion market at its peak. This is wild to even think about. It’s no secret that sports fandom across the state is through the roof, which is why sports betting feels like it would be a no-brainer for California. Countless efforts have been recorded in the past, but nothing has gotten done.

Now, though, people are hoping that this latest research study could motivate lawmakers and officials even more to get something done. Across the United States, we are seeing a growing trend with legal sports betting. Unfortunately for California, the longer they wait to give legalization the green light, the more illegal bets are going to be recorded. As you’ve probably read on MyTopSportsbooks, illegal betting rings continue to operate at a high level.

While plenty have been shut down in the past, that doesn’t mean that there aren’t currently a high number of those rings still under operation. Having said that, making things legal would put these guys out of business and help California as a whole with its revenue efforts. Now, with this $30 billion estimate, it has so many people talking. Could it lead to more betting bills being put into place?

NFL betting would have a major market in California

Looking ahead to the future if things, there’s no question that NFL betting would have a major market in California. As things stand, there are millions and millions of football fans who love the National Football League, and they’d no question be ready to take a look at the NFL betting odds and drop some money on things. Right now, the San Francisco 49ers are the only Californian team still in the hunt to bring home the Lombardi Trophy.

With this, the 49ers have decent Super Bowl betting odds and they’re hoping to take down the Dallas Cowboys this weekend. This is a huge game and there’s already countless bets being placed on that action. It’ll be on Brock Purdy to have a big game, and SF fans have a ton of belief in the rookie quarterback to get the job done. Deebo Samuel, Christian McCaffrey and others will need to have monster contests too.

With the Super Bowl inching closer and closer, illegal activity in California continues to rise, which is concerning. This wouldn’t be an issue of things were legal, but that’s just not the case right now. Looking ahead of 3-5 years from now, the hope is that legal betting will be available for people in California to take advantage of. Once that does happen, which is expected, NFL bets will surely be massive.

Not only that, but NCAAF betting odds will be checked regularly and bets will be placed in popular fashion as well. There’s an incredible amount of college football talent in the state too, with the Southern California Trojans and UCLA Bruins being among the most competitive squads in the Pac-12. People can’t wait to be able to bet on them legally. When will that happen? We can’t wait to find out the answer to that question.

What’s next for California sports betting push?

With so much uncertainty, people continue to wonder what’s next for California sports betting push? Right now, things aren’t very clear, but you better believe that there’s going to be movement in the coming months. However, remember that sports betting won’t be coming this year. The hope is that things can get rocking for the 2024 ballot, which means we could have sports betting late next year, or by early 2025.

This isn’t what people are hoping for, but the fact of the matter is that things not getting passed in November has really set things back. Everyone figured at least one of the betting props would have been passed, but both of them getting turned down was quite damaging for the betting efforts. Looking forward to the next ballot, the priority must be to get a bill on the table that the majority of the voters are going to be happy with. Another ballot coming and going without a resolution would be terrible.

The hope is that won’t end up happening. The tribes across California are looking to take the lead with things, but it will surely be on them to try and win over the voters in a way that couldn’t last fall. The next sports betting bill must be a home run across the board.

Peter Lewis

Peter Lewis Jr. comes from Mississippi where he and his family spend their days discussing college football and basketball. He's written sports journalism for years after studying journalism at a local university.