Betting on sports has been a practice
enjoyed by people for thousands of years. Early forms of gambling didn’t
resemble the industry we know today, with bets placed in accordance with strict
laws at land-based casinos or overseas sportsbooks. Records mention wagers
placed on the early Olympic Games in ancient Greece. It’s not difficult to
imagine people making predictions on events involving humans or animals before
that.
In many countries around the world,
betting on professional sport is legal, with bookmakers licensed and regulated
at government level. The United Kingdom is considered to be the spiritual home
of the modern gambling industry. Independent bookmakers like William Hill and
Joe Coral accepted bets on horse races and greyhound races at track. These men
were pioneers of sports betting, building their businesses and evolving to
become William Hill and Coral, two of the biggest names in the sports betting
market.
It’s not just residents in Great Britain
that can enjoy a gamble on their favourite horse race, Premier League football
team or boxing match. The industry is growing and evolving, spreading to new
areas of the globe thanks to online betting. Canada and the United States
recently lifted their long-running restriction on gambling, creating excitement.
California is just one of the US states pushing for betting to be legalised,
and it looks like this could happen as early as 2022. Several California sportsbooks are already waiting in the wings to act on these proposed changes to the law.
Bookies are ready to act
The biggest names in the sportsbook
gambling sector are prepared to act, bringing betting to Californians at the
earliest opportunity. They won’t be coming from a standing start either. The
leading bookies from the United Kingdom, the United States and Europe are
planning an attack on the Golden State. They have already gained a foothold in
neighbouring states that acted quicker than California to legalise betting.
Bookies are prepared for the starter’s
gun. They have offices in place, their target audience set out, the promotions
and free bets they plan to offer new customers and a list of the sports and
competitions that will be popular in the state. This is nothing new to them.
They know what works and precisely what bettors want to entice them to register
for an online betting account then start wagering on the NFL, NBA,
MLB, and other world-famous leagues.
When California legalises sports betting
in the state, they won’t be the first to do so. Far from it. We’ve seen many
regions move much quicker, including New Jersey, the first to remove that ban
on betting. Doing so has resulted in a number of benefits, not least the huge
increase in taxes generated from allowing bookies to trade in the area.
Pros far outweigh the cons
The positives far out-weight the
negatives, and governors in Cali, New York and other major states are beginning
to realise this. They know allowing betting apps to trade in the state and
hitting them hard in taxes could help speed up the post-pandemic recovery. The
dated laws regarding banning have also become a bit of a joke. They were
written to ban people visiting land-based underground betting dens. At the
time, there wasn’t an option or even an idea that one day residents could
gamble through an overseas sportsbook using their home computer or smartphone,
something many have been doing under the radar for years.
With sections of the population taking
advantage of online betting and loopholes in the laws, gambling with bookies
from the UK and Europe, it means US states were missing out on the taxes while
betting was ungoverned in the state. The aim is to change all that, legalising
betting, submitting a set of modern rules that bettors and bookies must abide
by then ramping up the taxes. The top betting firms are so desperate for access
to an untouched market, a new oil well of bettors, that they are happy to pay
over the odds for the privilege.
Nothing has been decided yet, and the
bill to legalise betting in California will be debated and decided on later in
2022. The early signs are promising for those in support as citizens and
betting firms apply pressure to those in charge.
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