Wednesday, October 4, 2023

DraftKings Optimistic on California Sports Bets

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The leader of DraftKings has a lot of optimism when it comes to California sports bets. Of course, his opinions may be somewhat skewed by the fact that his company has a rather large investment in that market. And of course, DraftKings could profit plenty if and/or when that market eventually opens up.

CEO Jason Robins optimistically believes that California sports bets could be live as soon as next year. And why not? After all, DraftKings is pushing one of the ballot referendum which voters will consider this November. DraftKings is part of a larger coalition which was able to get enough public support to have the matter considered.

Robins went on to say that California is one of the largest states expected to legalize sports betting in America. All by itself, the state represents over 12% of the US population. And if they regulated betting on sports then nearly 60% of the country would be participating in the industry.

He went on to state that the possibilities that accompany California sports bets are truly exciting. And if their referendum is passed this fall, the state could see it’s first legal wagers in 2023, perhaps before the start of the NFL season.

Robins said the tax rate set forth if the referendum is good as well. “Everything is set in a very reasonable way because you can actually write the whole piece of legislation on the ballot, which is nice”, he added. So, fingers crossed that voters in California see things the same way.