Top Sportsbooks Pivot On Prop 27 Ad Strategy In California
On November 8, California voters will decide on Prop 27, which seeks to legalize online sports wagering across the Golden State. Prop 26 would authorize retail sports betting only on federally recognized tribal lands. BetMGM CEO Adam Greenblatt says they are pivoting to a more direct-to-consumer approach to maximize their chances.
According to polling data, 54% of California voters oppose Prop 27. Prop. 27 is a digital wagering initiative. According to Howe, the black market could thrive if Prop27 is defeated. California is about 1.5 times larger than Australia in terms of population. The state's economy is estimated to be $3.35 trillion in 2021. In the six months leading up to June 2021, 8% Australian adults reported betting online. Of that group, 57% wagered on sports. California's online sports betting market is expected to generate $2 billion to $ 3 billion in annual gross gaming revenue.
BetMGM and Arizona Cardinals opened the BetMgm Sportsbook at State Farm Stadium earlier this month. The facility is located in The Great Lawn, a tailgating area located about 0.3 miles from the stadium. It is the nation's first retail sportsbook on an NFL campus. More than 66,000 geolocation checks were made from approximately 7,300 accounts at the opening game against the Chiefs.
Jeffrey Katzenberg appeared on a panel on cybersecurity on Wednesday afternoon. He is bullish on Disney's live streaming business under CEO Bob Chapek. He expects Disney+ live stream to become profitable by 2024. Chapke has said ESPN will not accept bets directly, but will look for a third-party sportsbook as a potential partner.
