The sports betting scene in America is becoming more visible now that Tuesday’s elections have settled political debates and political races. [Image: Shutterstock.com]
Millions of Americans turned up at polling stations across the country on Tuesday for elections to cast their ballots for governors, senators, representatives and issues such as sports betting policies.
The midterm elections have major implications for every state’s gambling trajectory, not only by allowing the public to vote on crucial issues, but by assembling the team that will handle legislative debates for at least the next two years.
The scene of American betting legislation is clearer than it was 24 hours ago
For this reason, the gaming industry has focused on voting results in several key areas, such as California, and a number of Midwestern states that have not yet legalized betting. With most votes counted on Wednesday, the scene for US betting legislation is much clearer than it was 24 hours ago.
VegasSlotsOnline News Take a look at the headlines.
California’s hopes fade
The biggest domino piece for the gambling community in Tuesday’s election included two measures, Proposition 26 and Proposition 27. The latter would have opened the doors to widespread sports betting in California, while its counterpart would have placed betting under local authority. indigenous tribes.
In bad news for California tribes and commercial operators eyeing the much-coveted prize, both Proposition 27 and Proposition 26 failed to gain the necessary support. The News agency He called for the resolution in both cases early Wednesday morning although the votes had not yet been fully counted. With nearly half the vote now projected, 70% voted No to Proposition 26 and 83.1% said No to Proposition 27.
Interested parties poured nearly $500 million into advertising in the run-up to Election Day and it’s clear to see why. Industry insiders predicted that the California betting market could generate up to $3 billion in annual revenue.
After the vote, any hope of sports betting in California was postponed until 2024 at the earliest, particularly given voter reaction to the intense ad campaigns leading up to Election Day. “If these two measures (Proposition 26 and Proposition 27) are rejected, it will likely take a long time for voter sentiment to recover after the very negative tone of political ads during this campaign,” said Barry Jonas, an analyst at Trust Securities. before voting.
Texas still has Abbott
Another huge state that has yet to join the sports betting market is Texas. Tuesday’s vote revealed that the incumbent Governor Greg Abbott led a successful re-election bid On competitor Beto O’Rourke, who was open to legalizing sports gambling. However, Abbott recently offered some semblance of hope to Texas betting enthusiasts by showing his willingness to listen to pro-betting lobbyists.
Lawmakers will have to agree a betting law next year
The Texas legislature meets only during odd-numbered years, which means lawmakers will have to approve betting legislation next year. Otherwise, it won’t be a topic at least until after the next presidential election.
Texas sports teams have already decided to take part in the betting process. Earlier this year, the world championship-winning Houston Astros signed a deal with esports company BetMGM. Texas furniture store owner Mattress Mack also recently made the biggest bet in history ($75 million) by backing the Astros for the MLB title.
Hoskins will fight in Missouri
Several Midwest states, namely Missouri, Oklahoma and Minnesota, were also highlighted during Tuesday’s poll.
Union formed to pile pressure on lawmakers
Missouri has been at the center of the sports betting debate over the past year and has debated legalization since the door was opened by repealing the Professional and Amateur Sports Protection Act in 2018. Even local professional sports teams and their owners have formed a union to pile pressure on lawmakers, although their efforts have so far been unsuccessful.
Senator Denny Hoskins led the recent push to legalize sports betting in Missouri, and in good news for betting proponents, his seat on the upcoming calendar has been confirmed. His commitment to expanding video game stations provided a point of contention for opponents, resulting in opposition to any of his pro-gambling policies. Sports betting is not likely to converge in Missouri unless the issues are separated.
Mixed results for others
In Oklahoma, the incumbent Governor Kevin Stitt successfully won re-election, which led to disappointment in the pro-gambling community. Despite being a member of the tribe, Stitt has sued the tribes over video game charters. With his return to office, legal sports betting seems like just an intellectual exercise.
Supportive betting as long as the legislation has the support of the Minnesota tribes
Meanwhile, Minnesota also has to deal with the limits of creating legal sports betting without stripping local tribes of their autonomy in the industry. There, Governor Tim Walz secured re-election after defeating Scott Jensen. Walz supports betting as long as the legislation has the support of the Minnesota tribes as well.
While all of this was going on, Georgia was preoccupied with reelecting incumbent Governor Brian Kemp before challenging Stacey Abrams. Kemp has opposed legal gambling in the past, but recent polls have indicated that a majority of voters support casinos and almost a majority support sports betting.