Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Possible second wave with all these riots? Seems like its getting out of control there!
Dont get too carried away with US potential. WMH were one of the first UK bookies to enter the US market and its not been earth shattering. Their online presence in UK is weak compared with other competitors, proven bythefact that they make more from betting shops. A lot bigger players getting into the US market now with much more resources available. There's also a lot of red tape and expense involved in th US market. I would concentrate on the UK shops staying open, as that would be a big issue if they close again. That said 190 by year end is doable.
The logic begins legalising sports betting is pretty good - ie. It's already happening illegally, it feeds organised crime and deprives the states of tax revenue. 20 States have legal sportsbetting, 30 don't. Such a good growth story for the industry, a once in a lifetime land rush.
An article for late Jan but an interesting read from the LA Times. It seems that there’s a lot of illegal betting in California thus the state is missing a lot of potential tax income.
https://www.latimes.com/california/story/2020-01-21/california-sports-betting-november-ballot-measure
Yeah it basically allows online sports betting throughout the state with a hurdle requirement that you can only use an app skin from one of the 69 Californian Indian casinos or 2 Californian racetracks. I'm not sure if that means you need to physically sign up on-site at the casino / race track or not. The big question there is who partners with the casinos. William hill will pick up its share no doubt if this gets through.
You could actually ask one of the bookies to give you odds on it to get a better idea, I think some of them offer request a bet like skybet
Splice, thanks for the great reply, voting may be similar to here, that the Democrats manifesto may say to support the Sports betting changes so that increase tax income would help with social security for the people of California. At the moment all the potential tax revenue goes to Nevada!
California-
“ Entities offering sports betting would be able to offer online betting, which would be subject to a 15% gross revenue tax, and retail, which will be taxed at 10%. Online operators would also be expected to pay an initial $5m license fee, plus an annual renewal fee of $1m and may operate one online “skin”.”
Did any other states that passed go to public vote?
Damn, that's not good. That means at least 2 out of 3 people will need to vote in favour. I'd say if bookies were doing odds on the vote they'd have it at at somewhere between 5/2 and 3/1. Obviously a huge amount of guessing on my side though, I could be totally wrong, mainly basing my guess on how close the Colorado vote went.
Yeah 2/3 of Californians need to vote for this because it's a constitutional amendment.
Needs 2/3rds to pass? Whys that? I would say the odds would favour it not passing then. Would have slightly edged it passing if it was a fair 50/50 vote.
Morbox, I would like to look at polling or a predictive market to get an idea of whether Californians would vote 66% in favour of sports betting in casinos / race tracks.
I can't find a predictive market listing this yet but one may list this if/when a bill is passed allowing the ballot.
The only poll I can find is one from 2011. Here is an excerpt from an old article:
"A California Field Poll shows 53 percent of voters support legalizing and taxing online gambling. The poll suggests the measure as a good way for the state to create a new windfall of tax revenue. Pollster Mark DiCamillo said voters like the idea since the state is always looking for new ways to make ends meet. 41 percent of voters are opposed, with Republicans evenly divided on the issue. Democrats on the other hand definitively support an online gambling tax. Age factored into the poll as well. Only 35 percent of Californians who are 65 or older support the concept'
https://www.google.com/amp/s/sanfrancisco.cbslocal.com/2011/09/24/field-poll-california-voters-want-taxed-online-gambling/amp/
When reading that poll:
- it was 9 years ago
- the poll asked about legalised online gambling, not online sports book skins for Indian casinos and racetracks
- seems republicans are less likely to favour the bill, but CA is more Dem nowadays
- older generation was are less likely to favour the bill, but there has been generational shift since 2011
- CA government financial position has worsened since 2011, they need tax revenue now
In summary, there isn't enough evidence to know. The influence of the Indian casinos who may not like the bill as written is another factor. I'm sure there will be people doing analysis/polling if/when the bill gets through soon.
Not sure, Colorado only passed it by a vote of 51%/49. California is a bit more democrat than Colorado. I would ignorantly imagine republicans would be more in favour of passing it, but then you could say democrats might think that a person should be able to make their own choice on it without goverment interference , i don't know!
Sorry Splice typing when you were posting. I wonder if the California people would vote for it? But a lot drive across to Vegas to get their fill. Has anyone got thoughts?
As I’ve posted before if passed this won’t happen until 2021, referendum Nov 2020 and must past by 2/3s. But the upside is that hopefully COVID would have passed. Personally again posted before 160-170 realistically until divs and US expansion (Don’t mind being proved wrong!). As LUFC has said IDS and other MP’s may put a spanner in the works but hay another top up opportunity waiting US market to mature and expand.
'In a partisan 9-3 vote, with all Democrats on the committee voting for the bill and all Republicans against". Given that the Democratic Party currently holds veto-proof supermajorities in both houses of the California State Legislature, I think there is an extremely high chance this goes to a public vote in November.
Another quote from the US press
“ William Hill – Another sportsbook app that could make some noise in California is William Hill. They currently operate a sportsbook and online gaming options for more than a dozen physical Las Vegas casinos. The current involvement in the western US and proximity to California gives William Hill an edge to secure the necessary approval in California.”
Keep your eyes on US news on Monday/Tuesday AM! Just hope it goes through and WMH are in the position to do what it does best “being the first in new states”
https://www.igamingbusiness.com/news/committee-approves-california-sports-betting-bill
This is why the scum brothers want Hills.Estimated USA online sports betting will be worth 250 BILLION dollars by 2024 and CALIFORNIA Alone has a population of 40 million people...I should think bet 365 and facebook will be wanting a slice of that pie too plus Eldorado casinos who Hills are in partnership..Forget UK AND ITS REGULATION ….
https://www.foxbusiness.com/sports/legal-sports-betting-california-2020-states