Since polls show that California sports betting offers won’t get the voter approval, sportsbook operators are cutting back on their advertising spending. [Image: Shutterstock.com]
Sports betting operators, including DraftKings and FanDuel, are reducing their spending on sports betting ads in California. The latest polls show that a ballot measure aimed at legalizing online sports betting is likely to be unsuccessful in November.
Only 27% would support Proposition 27
The The Wall Street Journal She reported that the pro-show’s 27 campaign recently eliminated $11 million worth of broadcast and cable television ads. They were supposed to air until the November 8 vote. According to recent polls from the University of California, Berkeley’s Institute of Government Studies (IGS), only 31% of people would vote for Proposition 26 and only 27% would support Proposition 27.
Big spend on ads
Many of the advertisements in favor of the two propositions have focused more on the positive results of legalizing sports betting rather than really on the benefits to bettors. They highlight, for example, how sports betting revenue can be directed toward combating homelessness and gambling addiction.
The tribes also spent significantly to attack Proposition 27. Berkeley IGS Director of Reconnaissance Mark DiCamillo told Los Angeles Times He believes that negative advertising keeps people away from the idea of legalizing sports betting.
Focus more on direct communication with voters
Much of the advertisements so far have come from tribal groups. About $116 million has been spent on ads promoting Proposition 26 and anti-proposition 27 messages. The plan for the pro-Proposition 27 campaign is to now focus more on communicating directly with voters, inviting them to vote for the ability to gamble on their phones, which is legal in many states other.
A market with huge potential
California is by far the most populous US state, with a population of about 39 million. Obviously, it will represent a huge market for sports betting if the legalization efforts are successful. Proposition 26 aims to allow sports betting in tribal casinos and four racetracks in the state, while Proposition 27 legalizes online betting.
Supporters of the proposal include 27 FanDuel, DraftKings, BetMGM, Bally’s and Penn Entertainment.
Of course, the majority of tribes support Proposition 26, while online bookmakers push Proposition 27. The latter is likely to generate hundreds of millions of dollars for the state if it gets the voter’s approval, while the tribal-backed proposal will bring in tens of millions of dollars. To date, more than $400 million has been raised for a campaign for two California sports betting metrics.