when california will pass sports betting online

The funds raised through these taxes would be reserved as a set-aside and used for the following purposes: Companies subject to the tax could deduct up to 20% of their application fees each year from their taxes for at least the first 10 years of operation. The measure would levy a 10% tax on winning sports bettors and a 10% tax on the gaming entities, tribes and gambling companies who offer sports betting online. It also would set up the process and timelines by which licenses are reviewed and approved, specifically granting temporary authority to applicants to proceed with providing online betting services if the division cannot adhere to the prescribed review timelines. The measure would establish the regulatory framework for online sports betting and create a new Division of Online Sports Betting Control within the California Department of Justice to administer the new service. Use their tribe name as the name of their online sports betting platform if they create one.Cede some tribal sovereignty in the regulation of the agreements with qualified gaming entities or online platforms.Pay a one-time application fee of $10 million.The measure would also create rules of engagement for gaming tribes. Enter into an agreement with a gaming tribe delineating the relationship between the tribe and the service provider.Pay a one-time application fee of $10 million (for online sports betting platforms) or $100 million (for gaming entities).

Online sports betting platforms and gaming entities would also have to:

Licensed to offer online sports betting in at least five states or territories and operate at least 12 casinos in the United States.

Licensed to offer online sports betting in at least 10 U.S.

The measure would create a series of eligibility requirements for online sports betting platforms and for gaming entities.

Gaming entities: companies that offer gambling through physical casinos and may also offer online gambling.

Online sports betting platforms: companies that offer online gambling.

Gaming tribes: federally recognized Indian tribes that enter into a tribal-state compact giving the State of California regulatory authority over gaming services offered by the tribe.

Proposition 27 would legalize online sports betting and authorize three types of entities to offer this service:

When california will pass sports betting online