California Sports Betting Hopes Dashed as Two Props Fail
Two California propositions that would have allowed sports betting failed to gain public support. The Associated Press has already called the race. California's gambling industry and external corporations spent $450m on the campaigns.
Proposition 27 failed to pass in California. It would have allowed mega-corporations to take advantage of the newly launched market. Governor Gavin Newsom secured reelection on Tuesday. The legislature will reconvene on January 4 to discuss the issue.
Experts believe California could be one of the most prosperous sports betting markets in the US if it went legal. The state is home to almost 40 million people, including 23 million who are above the age of 21. California is also home of professional sports teams, such as the Los Angeles Lakers, Golden State Warriors, San Francisco 49ers, and Los Los Angles Dodgers.
