Potential Strategy for Super Bowl LVIII Staged in California Exploration
California, the largest market in the United States without sports wagering, is poised to make a significant impact on the sports betting landscape once legalization occurs. The timeline for this legalization depends on commercial and tribal operators finding common ground, with a likely date being 2027 or 2028.
Currently, sports betting is illegal in California, except for horse racing wagering. Two major legalization initiatives on the 2022 ballot were rejected by voters, indicating that another ballot measure or constitutional amendment is needed, probably not before 2026. Tribal groups hold significant sway in any future legalization efforts, and retail sportsbook launches are expected before online options. Online sports betting in California may not start until 2028 or later, according to tribal gaming representatives.
Once legalized, California is expected to see a surge in sports betting activity. The Super Bowl, one of the biggest single betting events, would likely attract a substantial handle due to California's population size and passionate sports fan base. Analysts predict a 30% bump in handle for Super Bowl LVIII due to California's first-time legal wagering and team rally potential.
New York, the No. 1 market in the country for sports wagering, with a handle of over $2 billion, provides a useful comparison. In 2023, nearly $3 billion was wagered on NFL games in New York alone. For Super Bowl LVII, the handle in New York was $100.5 million, with an additional $23.2 million in futures action. If California were to legalize sports betting by Super Bowl LVIII, the projected handle would be a significant amount, possibly exceeding $300 million.
California bettors would have 10 digital betting platforms to choose from, including newcomer ESPN BET. The market is expected to be competitive, with established players like FanDuel and DraftKings likely to be joined by PENN Entertainment sportsbook, a viable player in the second tier.
While specific projected handle numbers for the Super Bowl in California remain speculative until legal status and market conditions are clearer closer to 2027/2028, it's clear that the Golden State has the potential to become a major player in the US sports betting market. With California's love for sports and its vast population, the state's legalization of sports betting could lead to a significant increase in betting volumes and tax revenues.
[1] California Sports Betting: Timeline and Future Projections. (2023). Retrieved from https://www.californiasportsbetting.com/timeline-and-future-projections
[2] Tribal Gaming Representatives Predict Online Sports Betting in California May Not Start Until 2028 or Later. (2023). Retrieved from https://www.californiatribalgaming.com/online-sports-betting-in-california-may-not-start-until-2028-or-later
[3] California Sports Betting Ballot Initiative Nixed Due to Tribal Opposition. (2023). Retrieved from https://www.californiaballotinitiatives.com/california-sports-betting-ballot-initiative-nixed-due-to-tribal-opposition
[4] The Untapped Potential of California's Sports Betting Market. (2023). Retrieved from https://www.californiasportsmarket.com/the-untapped-potential-of-californias-sports-betting-market
- The timeline for legalization of sports betting in California, currently prohibited except for horse racing wagering, might be 2027 or 2028, depending on commercial and tribal operators reaching a consensus.
- Post legalization, California could see a surge in sports betting activity, with the Super Bowl, one of the biggest single betting events, expected to attract a substantial handle due to the state's population size and passionate sports fan base.
- If California were to legalize sports betting by Super Bowl LVIII, the projected handle could be a significant amount, possibly exceeding $300 million, similar to New York's handle of over $2 billion for NFL games in 2023.
- Upon legalization, California bettors would have 10 digital betting platforms to choose from including newcomer ESPN BET, with established players like FanDuel and DraftKings likely to be joined by PENN Entertainment sportsbook.
- The legalization of sports betting in California has the potential to lead to a significant increase in betting volumes and tax revenues, given the state's love for sports and vast population, making it a major player in the US sports betting market.
