If sports betting was legalized in California, experts say the state would be the nation’s largest market. But it’s looking unlikely that will happen this election cycle.
Despite a historic amount of money spent, two sports betting propositions on California’s November ballot – Propositions 26 and 27 – appear poised to fail, according to recent polls of likely voters.
Together, the campaigns that have come out in support of and in opposition to the initiatives have spent more than half a billion dollars – a record amount of money spent on propositions in the Golden State. The campaign in support of Proposition 27 and the campaign in opposition to the initiative have raised over $400 million – a figure that, when adjusted for inflation, is more than John McCain spent on his 2008 presidential campaign.
