News Staff - October 1, 2022 - Business - California Mid Term Election - 1.4K views - 0 Comments - 0 Likes - 0 Reviews
Proposition 26 allows in-person sports betting at racetracks and tribal casinos.
DLNews politics:
Proposition 26 is a ballot measure that allows in-person sports betting in tribal casinos and racetracks and permits mobile and online sports wagering. However, sports betting could only be offered to people 21 or older at race tracks.
Proposition 26 would legalize in-person sports betting at horse racetracks, and the proposition would also allow tribal casinos to begin offering roulette and dice games, including craps casinos, if passed. It would also raise millions of dollars in state revenue each year. Part of that revenue would be new since the state currently doesn't get a share of illegal sports bets. Because the state does not require to tax tribes, which are sovereign nations, it requires tribes to reimburse the state for the cost of regulating sports betting. The rest of the money would come from legal sports bets. It would also provide resources for gambling treatment and prevention. It would also make it possible to offer dice games and roulette at tribal casinos. But it's unclear whether it would lead to more regulation.
The state is weighing the benefits of legalizing sports betting in California. The Legislative Analyst's Office estimates that sports betting could generate millions in tax revenue. But despite those benefits, the state's current tax structure is inefficient. As a result, Proposition 26's opponents have spent $125 million advertising to defeat the measure.
Californians may be faced with a tough decision in the midterm elections. One proposal will allow online and mobile sports betting in the state, while the other will limit it to land-based casinos. However, the two measures differ in many ways. Proposition 27 would allow for online wagering, while Proposition 26 would only allow mobile betting. Moreover, both measures would require licenses from 10 other states.
In addition to legalizing online and mobile sports betting, Proposition 26 aims to fight the state's homeless crisis. If it passes, 85% of the proceeds will go to California Solutions to Homelessness. The remaining 15% would go to the Tribal Economic Development Account, which would help expand tribal public health and infrastructure.
The proposition also creates a new way of enforcing some gaming laws, allowing anyone to bring a lawsuit if they believe the laws are being violated and the state Justice Department declines to act. Any penalty and settlement money that results would go to the state.
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