Thursday, June 2, 2016

Update on Status of Exchange Wagering in California

I haven't seen any other coverage of this, but thought I'd provide an update.  My understanding is that in addition to NJ, exchange wagering is technically legal in California (and has been for years), but just hasn't "been implemented".  It's a bit unclear to me whether this simply means that Betfair or other potential operators haven't yet been able to reach an agreement with industry participants in California, or whether some sort of regulatory action needs to take place.

In any case, the bill legalizing exchange wagering in California apparently became 'inoperative' on May 1st and was set to be repealed on January 1st of next year.  The California legislature is working towards extending the deadlines by four years, with the assembly having already passed the extension and the senate beginning to consider it now: https://legiscan.com/CA/bill/AB2808.

You can read the full text of the legislation being considered here: https://legiscan.com/CA/text/AB2808/2015.

No comments:

Post a Comment