As we inch closer and closer to sports betting becoming legal in California, some exciting news has just arrived this week out of SoCal: sports betting at San Diego’s Del Mar Fairgrounds has been approved. While everyone is still waiting on the state as a whole to vote on whether or not sports betting can go through come November of 2022, this is a big win for the city of San Diego as a whole here.
This decision on whether or not to have betting allowed at the Del Mar fairgrounds was voted in, with folks now having the ability to bet there as soon as 2023. Remember, just because this was given the green light at Del Mar doesn’t mean that things are official yet, as we will know for sure in November if the state will allow this kind of gambling. It’s expected for things to pass once the votes are all tallied.
Having said that, this really is exciting news, as it feels like California as a whole is ready to move forward with things. Sports betting has now become legal in 26 states. The fact that California is behind in approving it is surely a shocker, but hey, better late than never as they say. Once they join the list, Del Mar will be ready to have sports supporters lay down bets with confidence. This is coming soon, indeed.
“Del Mar is the only fairgrounds in the state that would receive revenue from sports wagering under this ballot initiative,” president and chief operating officer of the Del Mar Thoroughbred Club Josh Rubinstein said via the Los Angeles Times. “If the citizens of California do not legalize sports wagering, then everything we are talking about goes out the window.”
Sports betting cleared for Del Mar Fairgrounds, voters must approve ballot Casino News – https://t.co/DudBVeK2m1
— Casino News (@CasinoNews6) September 20, 2021
The deal with Del Mar Fairgrounds is the first of many to come in California
As you might have been able to assume, the deal with Del Mar Fairgrounds is the first of many to come in California, as 2022 is getting closer and closer. With the current initiative that’s being set, the Native American Tribes who will be overseeing the California sports betting will see things being authorized in Alameda County, Los Angeles County, Orange County, and San Diego County to start off, which is big.
Obviously, this will open up the door right away for so many different locations in the SoCal area to try and offer up sports betting opportunities for their customers. The Del Mar fairgrounds reached this deal, with its board saying that it was a timely call for them to do so. The last thing they wanted to do was wait too long and miss out on their opportunity. Had that been the case, they would have really regretted it.
Once things do go through, people in San Diego will be incredibly excited to be able to make their way to the fairgrounds to place wagers in 2023. That might seem like a long time, but remember that folks all over California have been waiting so long for sports betting to be made legal. As of this writing, the vote is a little over a year away. After that, the countdown for ’23 bets will only be getting shorter and shorter.
This is something Californians know all about. As for government officials, they know just how much revenue this could bring the state. We’re talking about billions and billions of dollars here. Just take a look at states like New Jersey and Pennsylvania, which continue to see major rewards for going through with sports betting in their respective states. California has seen this and now they’re ready to join.
Sports wagering approved for Del Mar Fairgrounds, but don't place that bet yet https://t.co/wdaoyUfahD
— Los Angeles Times (@latimes) September 19, 2021
This new deal will be beneficial for the Del Mar Thoroughbred Club
One thing to keep in mind too is that this new deal will be beneficial for the Del Mar Thoroughbred Club too. There’s no denying that horse racing has seen a major decline since the pandemic started, which has made things financially difficult for the Del Mar Fairgrounds and Del Mar Thoroughbred Club as a result. Nationwide, horse racing has really taken a negative hit, which has been tough to see for so many.
However, with sports betting looking like it indeed will get pushed through, this will provide a massive revenue stream for the club at the fairgrounds. Think of how many sports fanatics would love to make their way to the fairgrounds to place a bet on a pro, like NFL, or college game? Again, this is something that people will likely be lining up to do. Now, things are now closer than they’ve ever been in California.
“Sports wagering will generate significant additional net revenues for DMTC which, along with the additional food and beverage revenues generated, will flow to the District and Race Track Authority,” Rubinstein said. “This new revenue stream will greatly assist the Fairgrounds as it continues to recover from the economic effects of the pandemic and also will help provide for its long-term financial stability.”
Rubenstein is clearly thrilled for the potential of sports betting in California, with it of course going to help the Del Mar Thoroughbred Club too with folks ready to check out sportsbooks. The long wait for sports betting in the state appears like it’s going to come to an end here soon. And soon enough, the Del Mar Fairgrounds will be a great place to get some wagers in. Get even more pumped, California citizens.