California Moves to Ban Sports and Sweepstakes Betting

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Transcript

00:00let's get to california they're trying to get rid of everything and not even have sports betting for

00:04them there in california those people who want to bet on sports play daily fantasy play in sweepstakes

00:09all seeming to be going away this year that does seem like that craig at least efforts to make that

00:15happen of course the ag there uh finally ruled from a request in 2023 on daily fantasy sports

00:22he said they're all illegal that isn't legally binding so there's no fallout yet so it's going

00:28to be really interesting to see what happens if fantasy operators pull out they put up legal

00:32fights things like that the other side of it is in the legislature there is a bill that would ban

00:38these sweepstakes operators that passed its second committee yesterday uh the public senate public

00:44safety committee six votes to zero uh so it is just moving swimmingly along there in california it is

00:50facing opposition from the industry uh sweepstakes industry associations there's two of those they're

00:56saying hey this is not great you're the way you went about this is not how things should be done

01:03it was in a separate bill that was not related to sweepstakes passed the assembly earlier this year

01:09and then once in the senate language to ban the sweepstakes operators was put into an unrelated tribal

01:15gaming compact bill so we'll see what happens the tribes are behind it they're they're fully supporting

01:21it so you're going to see a lot of friendly legislators just go ahead and vote for it there

01:26um we'll see what happens it will then have to go after the appropriations committee to the full senate

01:30floor then back to the assembly for concurrence because there is a major change of course completely

01:35changing the language of a bill and then we'll see what happens um there was kind of some clarity

01:40yesterday uh that there needs to be a few amendments made to it still probably they do make it clear that

01:47it is only targeting uh dual currency sweepstakes the things you can play for free but then you can

01:53also buy uh sweepstakes coins or other you know whatever they call their currency to use in gambling

01:58style uh casino style or sports betting style betting games um so it'll be interesting again to see how

02:06much of this passes how much uh it doesn't you've seen several other states uh legislators say hey this

02:15isn't okay ban it i think it was six other states and you know in louisiana the governor said

02:20vetoed it and said we don't need this the regulators can handle this on their own two days later they

02:25sent 40 season desist letters to sweepstakes operators another offshore uh gambling operators so

02:30again this is not past california yet it's not illegal yet uh might not be of course anything can

02:37happen in in the legislative process but it is moving uh getting through two committees uh unanimously

02:43so very interesting uh update in the sweepstakes world in california