It’s no secret that sports betting is a popular pastime in the United States. In fact, according to a report from the American Gaming Association, Americans wagered $154.8 billion on sports in 2017. That’s more than twice as much as was bet in 2006. And while some of that money is wagered illegally, an increasing amount is being bet legally as more and more states have legalized sports betting in recent years.
California is one of those states. Sports betting has been legal in California for many years, but only recently did the state begin to see a significant increase in the amount of money being wagered on sports. This is largely due to the fact that California is home to two of the most popular professional sports teams in the country, the Los Angeles Dodgers and the Golden State Warriors.
The Growth of Sports Betting in California
In 2018, SportsLine estimated that Californians would bet $1.3 billion on sports. That number is expected to grow to $3.1 billion by 2023. And it’s not just professional sports that Californians are betting on. The state is also home to many popular college sports teams, including the USC Trojans and the UCLA Bruins.
The growth of sports betting in California is good news for the state’s economy. According to a report from the American Gaming Association, the legalization of sports betting could generate $26.6 billion in economic activity and create more than 150,000 jobs in the state.
Contributing Factors
Online sports betting in California is one of the most significant contributors to the growth of sports betting in the state. Many online sportsbooks cater to Californians, and the convenience of being able to bet from anywhere has made online sports betting very popular.
Another factor contributing to the growth of sports betting in California is the introduction of mobile sports betting apps. These apps allow Californians to bet on sports from their smartphones. And with more than 39 million people in the state, there is a large potential market for mobile sports betting apps.
Finally, the growth of legal sports betting in other states also contributes to the development of sports betting in California. As more states legalize sports betting, it becomes more socially acceptable, and Californians become more likely to bet on sports.
Key Statistics of Sports Betting in California
- According to a report from the American Gaming Association, Californians wagered $1.3 billion on sports in 2018.
- The report also estimates that by 2023, Californians will bet $3.1 billion on sports.
- 32% of Californians say they have placed a bet on a sports event in the last year.
- 42% of Californians say they would be more likely to watch a sporting event if they had money riding on it.
- 61% of Californians support the legalization of sports betting.
The Future of Sports Betting in California
The future of sports betting in California looks bright. The state has a large population and is home to many popular professional and college sports teams. Additionally, online and mobile sports betting are both becoming increasingly popular. And as more states legalize sports betting, even more Californians will likely begin to bet on sports.
Conclusion
Sports betting is a popular pastime in the United States and is growing in popularity in California. The state has a large population and is home to many popular sports teams, making it an ideal sports betting market. Additionally, online and mobile sports betting are becoming increasingly popular, contributing to the growth of sports betting in California. In the future, even more, Californians will bet on sports as the activity becomes more socially acceptable.
