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California Voters Approve Online and Retail Sports Betting In November LAS VEGAS, PRNewswire/ - If California voters authorize online and retail sports wagering in November it will unlock to a market that has the prospective to create more than $30 billion in wagers each year, according to forecasts from PlayCA.com, which analyzes legalized gaming in California. Those wagers would produce some $2 billion in operator revenue and $300 million in state taxes each year. " California is the holy grail of sports betting markets, and not even if of its large size," said Dustin Gouker, primary analyst for PlayCA.com. "It appears that lawmakers are working to put in location a structure that will make California uniquely attractive to every significant operator. And since it has the potential to be the biggest legal sports wagering market in the U.S., ultimately it represents a seismic shift in the market." The California assembly took a substantial step toward the legalization of online and retail sports wagering in the Golden State on Thursday by including implementation information to ACA 16 and SCA 6. The brand-new language in the expenses, which were originally introduced in June 2019 by Sen. Bill Dodd (D-Napa) and Assemblyman Adam Gray (D-Merced), would amend the state constitution to: - Authorize retail and online sports betting at the state's tribal gambling establishments and racetracks if authorized by voters, but not at the state's cardrooms. - Set a tax rate of 10% on gross revenue for in-person wagering and a 15% tax for mobile or online wagering. - Impose taxes on the platform operators instead of directly by the tribes, to avoid sovereignty concerns. The tax rates are sensible within the context of legal U.S. sports betting jurisdictions. By contrast, New Jersey, the nation's biggest online sports betting market, levies a 13% tax on online sports wagering earnings and 9.75% tax on revenue from retail sportsbooks.