Sports Betting Legalization Closer in Texas Than California, BetMGM CEO Suggests
Sports betting legalization could be more detailed in Texas than it is in California, a minimum of in the eyes of BetMGM and its ceo.
Texas and California remain the 2 great untapped markets for legal online sports betting sites in the United States, and it appears like neither state is poised for any major modifications to betting policy in 2024.
However, for one significant sportsbook and online casino operator, BetMGM, the chances of legalization look much better for Texas than they provide for California.
"California is not in our near-term design, Texas is," BetMGM CEO Adam Greenblatt stated Wednesday at the NEXT Summit New York 2024 in Manhattan.
I have made it to NEXT Summit New York City 2024 in Manhattan. First panel of the day is about forecasts for 2025. Betr CEO Joey Levy (whose company simply revealed a $15M fundraise at a $375M evaluation) states the distribution design for operators will need to change. pic.twitter.com/RUGIbBTRYy
BetMGM was part of the coalition of operators that attempted and failed to legalize online sports wagering in California in 2022, so those scars and lessons are still fairly fresh.
In Texas, however, the legalization lobby may have acquired another ally with the recent multibillion-dollar purchase of a controlling stake in the NBA's Dallas Mavericks by the families behind gambling establishment operator Las Vegas Sands Corp.
. The Texas legislature will not have another regular session up until 2025, which suggests any sports betting bills will have to wait up until then, disallowing intervention from the governor. Nevertheless, Greenblatt was asked by CNBC's Contessa Brewer on Wednesday if the Mavericks acquisition would make a difference with lawmakers.
"The group owners in Texas are extremely influential, and so the answer to that is yes," Greenblatt stated.
Sports betting legalization could be more detailed in Texas than it is in California, a minimum of in the eyes of BetMGM and its ceo.
Texas and California remain the 2 great untapped markets for legal online sports betting sites in the United States, and it appears like neither state is poised for any major modifications to betting policy in 2024.
However, for one significant sportsbook and online casino operator, BetMGM, the chances of legalization look much better for Texas than they provide for California.
"California is not in our near-term design, Texas is," BetMGM CEO Adam Greenblatt stated Wednesday at the NEXT Summit New York 2024 in Manhattan.
I have made it to NEXT Summit New York City 2024 in Manhattan. First panel of the day is about forecasts for 2025. Betr CEO Joey Levy (whose company simply revealed a $15M fundraise at a $375M evaluation) states the distribution design for operators will need to change. pic.twitter.com/RUGIbBTRYy
BetMGM was part of the coalition of operators that attempted and failed to legalize online sports wagering in California in 2022, so those scars and lessons are still fairly fresh.
In Texas, however, the legalization lobby may have acquired another ally with the recent multibillion-dollar purchase of a controlling stake in the NBA's Dallas Mavericks by the families behind gambling establishment operator Las Vegas Sands Corp.
. The Texas legislature will not have another regular session up until 2025, which suggests any sports betting bills will have to wait up until then, disallowing intervention from the governor. Nevertheless, Greenblatt was asked by CNBC's Contessa Brewer on Wednesday if the Mavericks acquisition would make a difference with lawmakers.
"The group owners in Texas are extremely influential, and so the answer to that is yes," Greenblatt stated.